TSLA - Elon Musk Says Lithium Refinement Needs to Ramp Up Dramatically
Elon Musk is calling for lithium refining to increase substantially to keep the sustainability movement on track. While Musk previously said that Tesla ( NASDAQ:TSLA ) would prefer not to enter the mining industry unless absolutely necessary, the EV maker is looking into the possibility of building a lithium refinery on the Texas Gulf Coast. The company has previously stated that more players in the lithium refining industry are needed. Given Tesla’s plans to significantly scale its operations in the coming years, it’s not surprising that the company is looking for new ways to acquire raw materials for the batteries that its EVs and energy storage systems will require. Of course, Tesla isn’t the only automaker racing to secure lithium supply, creating a significant uptick in the price of the battery metal and increasing interest in lithium mining companies like Noram Lithium Corp. ( TSXV:NRM ) ( OTCQB:NRVTF ), Sayona Mining Limited ( OTC:SYAXF ), Sigma Lithium ( TSXV:SGML ) ( NASDAQ:SGML ), and Standard Lithium ( TSXV:SLI ) ( NYSEAmerican:SLI ) .
Noram Lithium Corp. ( TSXV:NRM ) ( OTCQB:NRVTF ) is concentrating its efforts on the advancement of its 100%-owned Zeus Lithium Project in Clayton Valley, Nevada, an emerging lithium hub in the United States. With the growth of the electric vehicle and energy storage markets, the Company intends to become a key participa...
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