Elektros begins feasibility study on lithium mining project in Sierra Leon

Elektros ELEK, has commenced a mining feasibility study that will explore prospects of developing a lithium project in Sierra Leon.

The firm made move with an aim of being a lithium supplier to select processing partners, or battery manufacturer, with a portion of lithium supply potentially being reserved for any future battery production under Elektros umbrella.

Mr. Shlomo Bleier, the CEO of Elektros, Inc., revealed the report and said that upon completion of feasibility study, the company anticipates executing a letter of intent agreement towards next phase of development negotiations. Discussions regarding potential stake or development agreement for the project are underway

Annual lithium demand is projected to reach roughly 1.5 million metric tons of lithium carbonate equivalent by 2025 and over 3 million tons by 2030. This 2025 forecast calls for triple the demand seen in 2021. Electric Vehicles (EVs) could account for about 84% of total lithium demand in 2030, up from about 55% in 2021. Consumer electronics, energy storage, and other industrial applications are likely to account for the balance of demand.

About Elektros, Inc.

Elektros ELEK is an American electric transportation company that innovates mobility solutions for consumers and businesses. The automotive landscape faces existential disruption over the next decade to reach carbon neutrality. Elektros addresses this paradigm shift with mobility technologies that support sustainability for a transformative user experience. Elektros aims to present a compelling and completely new electric vehicle experience known as Elektros Sonic to consumers beginning as early as 2023.

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