Lithium Batteries a true energy source of the future

June 20, 2010 - PRLog -- AMERICAN LITHIUM MIN (OTC BB: AMLM.OB)

The development of lithium battery technology is pivotal to President Obama’s energy plan. Environmentally friendly lithium batteries will be an important part of the solution to America’s oil dependence as well the issue of global warming.

To that end, president Obama has signed a $790 billion economic stimulus plan that includes $5 billion for the development of a domestic battery industry including: $2 billion in loans, grants and tax credits to help stimulate the development and large-scale domestic production of advanced, lithium-ion batteries for hybrid and electric cars.

Up to $2.4 billion in tax credits for building battery plants. Another bonus included is a $7,500 tax credit for people who purchase plug-in hybrid cars, which will indirectly boost lithium-ion battery production.

Demand for lithium will skyrocket as more and more hybrids roll down the assembly line. But current U.S. capacity to mine and process lithium is very limited, making supply vulnerable and subject to market speculation.

AMERICAN LITHIUM has a Mineral Property Purchase Agreement dated June 15, 2009 to acquire 88 unpatented mineral claims in Esmeralda County, Nevada. They also have a Letter of Intent dated August 30, 2009 to acquire 50 additional mining claims in Esmeralda County, Nevada

If the US goes in the direction of an alternative energy source, their claims could become very valuable.


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