News 
Market Data 
Discover
Replies to post #6904 on International Battery Metals Ltd (IBATF)
06/20/24 12:52 AM
IBAT's modular plant was constructed in Lake Charles, La., before it was transported to US Magnesium's site in Utah. IBAT said engineering reviews indicate the plant can produce up to 5,000 metric tons of lithium chloride per year, and that the plant's design allows for expansion.
"These modules can be shipped by truck, rail, barge or a ship," Burba said. "We can send them anywhere we need to. The other aspect is we can build one of these plants at a fraction of the time of a conventional plant."
[color=green]Burba said IBAT can build a modular plant in about 12 months, and that the Utah plant cost about $25 million to $30 million.
"Our costs are going to be reduced [for future plants] simply because we learn every time we do something," Burba said. "We're continuing to improve key aspects of this plant. So, I think that we're going to see the cost decrease."[/color]
IBAT said its technology can work with a variety of brine feedstocks. While EVs may be viewed as a direct threat to oil producers, Daniel Layton, group chairman, CEO and founder of Ensorcia Group, told Commodity Insights there is an opportunity to create a symbiotic relationship between the oil and lithium industries. For example, IBAT reported that a large-volume test with Galvanic Energy LLC showed promise for extracting lithium from oilfield brines. Ensorcia Group is a lead investor in IBAT that also holds lithium resources in South America.
"I wish they didn't call it the energy transition," Layton said. "I wish they would call it the energy addition or another term because it's going to work in conjunction with hydrocarbons for years," Layton said. "You're going to breathe new life into these oil fields."
IBAT said its technology has also been demonstrated to be effective with subterranean brine resources from Alberta, Saskatchewan, Michigan, Ohio, Oklahoma, California, Texas, Chile, Argentina and Germany, as well as geothermal brines. In addition to working with companies with oilfield brines, IBAT said it is also working with companies interested in extracting lithium from brine aquifers and industrial customers with brine byproducts, to tap into new lithium resources around the world.
An underinvestment in domestic mineral supplies presents a major challenge to tackling the world's goals to mitigate the worst impacts of climate change, Layton said.
"You have all these multibillion-dollar gigaplants [to produce EV batteries] ... and there's no raw materials to supply it. There has not been capital for the development of downstream resources," Layton said. "If it doesn't come pouring in, in the next 12 to 24 months, you're really going to set this [energy transition] thing back a number of years."
AI
