American Resources’ ReElement, Jupiter Lithium sign joint development agreement

American Resources’ ReElement Technologies has entered into a partnership with UK-based Jupiter Lithium to develop Nigeria’s first large-scale lithium deposit spanning 442 square kilometers of high-quality, lithium-rich terrain. The Jupiter Critical Minerals Project is poised to become a transformative project for Nigeria, with the potential to establish the country as a regional hub for lithium mining and downstream battery and electric vehicle manufacturing. The project is expected to develop significant production capacity, supporting a robust local industry. Jupiter Lithium is focused on expanding its operations from the current contract mining to large-scale owner operations. This includes a spodumene concentrator facility to produce an initial 55,000 tons of 6% lithium spodumene concentrate annually. The first concentrate production from the plant is scheduled for the first quarter of 2025, ramping up 167,000 tons within two years. Pursuant to the MOU, ReElement is designing for the construction of its lithium and critical mineral refinery to refine spodumene concentrate into high-purity, battery-grade lithium carbonate and other critical minerals produced.