In a recent interview on CNBC's Squawk Box, Graham Harris, Chairman and Director of Surge Battery Metals, Inc. (TSX.V:NILI), (OTC: NILIF), shared valuable insights about the lithium market and the pivotal role NILI hopes to play in this dynamic landscape. Notably, Harris sold his last lithium company to Lithium Americas for $490M.
The Lithium Market's Rapid Ascent
Harris emphasized the burgeoning demand for lithium, particularly driven by the surging electric vehicle (EV) industry. This increased demand has led countries worldwide to scramble for reliable lithium supplies. The electric vehicle boom is transforming the automotive sector, creating a pressing need for a steady lithium supply.
China's Dominance and the "OPEC of Lithium" Concerns
During the interview, Harris raised a significant concern - the possibility of China becoming the "OPEC of lithium." With China currently producing 80% of the world's batteries, there's a real risk of a supply monopoly. Harris aptly compared this to the oil shocks that once impacted America. This analogy underscored the importance of diversifying the lithium supply chain, a core mission of Surge Battery Metals.
Securing Long-Term Supply of Lithium
Harris highlighted the importance of securing long-term lithium supplies. He pointed out that while lithium isn't in short supply, the challenge lies in identifying and developing viable projects. Here is where NILI's role begins. With significant lithium resources within the United States, and government incentives such as the Inflation Reduction Act, the company is well-positioned to help meet the rising demand for lithium with its Nevada North Lithium Project.
The Role of NILI in the EV Revolution
As the world transitions to electric vehicles, Harris emphasized the pivotal role Surge Battery Metals plays in providing the essential lithium resources required for this transformation.
During the 2022 drill program at their Nevada North Project , NILI unearthed an average lithium content of 3,254 parts per million (PPM) .Lithium assays from the current exploration program at the project have revealed lithium grades as high as 8070 PPM, among the highest ever discovered in Nevada. These robust lithium grades consistently maintain their high levels over significant lengths.
A Global Perspective on Lithium Supply
Lastly, the interview touched upon the global impact of lithium supply. Harris emphasized the necessity of reducing reliance on a single source and fostering diversified supply chains. Surge Battery Metals actively contributes to this goal by developing a secure and stable source of lithium within the United States.
Full interview here:
Posted on behalf of Surge Battery Metals Inc.