The Vancouver-based firm has development-stage lithium projects in Peru and Nevada when demand for the silvery white metal is soaring. The Biden administration’s Inflation Reduction Act, which earmarked $391 billion for domestic energy and climate initiatives, is designed to help battery-metals projects through loans and tax credits, but the timing of such assistance remains to be seen.
Booming global EV sales have boosted lithium consumption, leaving suppliers unable to keep pace with demand and driving up prices of the battery metal to record highs last year. EV makers are hoping that an imminent wave of lithium supply is on its way to provide relief for their expansion plans.
Clarke, 57, said he soon expects some “very meaningful tax credits” for domestic producers of critical minerals. American Lithium is spending more time in Washington, DC, lobbying for help developing its deposit in Nevada.
“It’s definitely going…
