Quantum Battery Metals Corp. is exploring the option of streaming the Nipissing Lorrain rockpile and as such, is in preliminary discussions to secure potential supply agreements with battery manufacturers. Quantum’s exploration team is currently evaluating the current mass of the rockpile, which has gone up significantly in value in light of current battery metal prices and the growing demand for battery metals produced within geopolitically safe jurisdictions like Canada.
The Company is actively seeking electric vehicle (“EV”) battery producers in North America to acquire the rockpile. The lithium-ion battery metals market was valued at $14 billion in 2021 and is expected to reach $286 billion by 2031. With the battery market heavily influenced by consumer electronics and industry wide technology, the increase and urgency of ethical battery metals has grown exponentially. The outbreak of COVID-19 has reportedly caused several delays within the manufacturing operations and in turn caused a slowdown of EV battery supply. With all the disruptions negatively affecting the market, Small to mid-range sized manufacturers are having difficulties finding supply and many manufacturers are looking to secure long-term supply contracts with battery metal producers. Quantum views this as the perfect time to monetize the easily accessible rockpile. There has already been interest in the rockpile, and the Company aims to begin talks with local producers in short order.
“While at the early stages of the mining life cycle, we are well positioned within the current environment to capitalize on the growing demands for battery metals in safe and mining friendly jurisdictions. Our prudent and value drive approach has allowed us to expand our portfolio which includes numerous lithium and cobalt properties. Many EV battery manufacturers require an ethical source for their raw materials, which is a major factor for their image, their viability and to meet the demand from today’s ethically driven investor base. With our properties located within North America, we can ensure that any material produced would be conflict free. The time is now for the battery metals market due to the influx demand of consumers and industries alike,” states David Greenway, Quantum Battery Director.