American Battery and ArcelorMittal Lead in Green Transition; Gold Royalty Soars

Key Takeaway

• American Battery Technology's new Nevada plant, backed by a $4.5 million U.S. DOE grant, aims to produce battery-grade lithium hydroxide from unconventional sources.
• ArcelorMittal Calvert's NOES facility, supported by $280.5 million in tax credits under the Inflation Reduction Act, will bolster domestic supply for EV motors and aid U.S. net-zero emissions goals.
• Gold Royalty reports a 112% increase in revenue to $2.9 million and projects reaching 5,000 to 5,600 gold ounces in 2024 with revenues of $10-$11.2 million at a gold price of $2,000 per ounce.

Lithium and Metals Drive Green Transition

American Battery Technology's pilot plant in Nevada's Tonopah Flats is set to produce battery-grade lithium hydroxide, marking a significant advancement in extracting lithium from unconventional sources. This initiative, supported by a $4.5 million grant from the U.S. Department of Energy, aims to reduce reliance on foreign lithium supplies and bolster the circular economy for battery metals. Similarly, ArcelorMittal Calvert's project, backed by $280.5 million in investment tax credits under the 48C program from the Inflation Reduction Act, focuses on enhancing the domestic supply of non-oriented electrical steel (NOES) for electric vehicle motors, aligning with the U.S. goal of achieving net-zero emissions by 2050.

Gold and Copper Outlook

Gold Royalty's revenue surge to $2.9 million, representing a 112% increase from the previous year, underscores the bullish outlook for gold, with projections hitting 5,000 to 5,600 gold ounces in 2024. This optimism is mirrored in the copper sector, where prices are nearing $10,000 per ton, driven by positive U.S. macroeconomic indicators and an improved manufacturing outlook in China. Arizona Metals Corp's stock is projected to see a significant increase, with Scotiabank analysts forecasting a 114% rise following high-grade copper and gold discoveries at the Kay Mine Project.

Mining Innovations and Market Sentiment

Austin Gold Corp's exploration at Stockade Mountain in Oregon has revealed high gold grades, indicating substantial untapped value and the potential for significant mineralization. The company's strategic exploration plans, including a reverse circulation drilling program, aim to explore deeper high-grade vein deposits. This initiative reflects a broader trend of mining companies leveraging innovative exploration techniques and strategic planning to unlock the value of underexplored regions.

Management Quotes

• American Battery Spokesperson:

  "This plant is a key step toward using U.S.-based unconventional lithium sources, reducing reliance on foreign supplies and supporting the demand for battery-grade metals in a circular economy."

• Barrick Gold CEO:

  "Open to Saudi Arabia acquiring part of Pakistan's stake."