American Battery Materials and XTC Lithium Plan Carachi Lithium Project Partnership

American Battery Materials, Inc. (ABM), based in Delaware, and Australia's XTC Lithium Limited have signed a non-binding Letter of Intent (LOI) for developing the Carachi Lithium Project. Located in Argentina's Catamarca Province, this project falls within the famed Lithium Triangle, known for rich lithium deposits crucial for electric vehicles and renewable energy storage.

The LOI gives ABM a chance to acquire up to a 50% interest in the project. After securing a 10% stake, ABM can enter a joint venture with XTC for continued exploration. David E. Graber, CEO of ABM, emphasizes the strategic importance of this partnership in expanding their lithium market footprint. XTC Chairman John Featherby highlights ABM's commitment to sustainable resource development as a key factor in their collaboration.

The transaction, however, hinges on a definitive agreement and obtaining all necessary approvals. The partnership aims to address the growing global lithium demand fueled by the clean energy sector's expansion.