Western Lithium Seeks Partners to Fund Nevada Mine

11 March 2010 (Last Updated March 11th, 2010 18:30)

Western Lithium is looking for strategic partners to help develop the Kings Valley Lithium project in Nevada. The development of mine will cost approximately $400m, according to Western Lithium president Jay Chmelauskas. Western Lithium said it is currently working on environ

Western Lithium is looking for strategic partners to help develop the Kings Valley Lithium project in Nevada.

The development of mine will cost approximately $400m, according to Western Lithium president Jay Chmelauskas.

Western Lithium said it is currently working on environmental impact filings for the project and expects to obtain approvals in the next two years.

The project has already been granted approvals by federal and state regulators.

Western Lithium currently has no production of lithium metal but expects to reach an output of 27,000t a year in its planned mine's first stage, according to Reuters.

It says it expects that car makers' plans to develop electric vehicles will increase the demand for lithium metal two or three-fold in coming years.

Chmelauskas concluded that the company is looking to find a partner among the companies that currently supplies the auto industry as it approaches the start date for the mine.