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Richard Kern, President & CEO, Iconic Minerals Ltd. “We’ve got the largest lithium resource in the state, and we’re on the way to proving it’s economic.” That’s the hope of Iconic Minerals (TSXV: ICM | OTC: BVTEF | FSE: YQGB), a junior exploration company with a flagship lithium project not far from the battery gigafactory Tesla is building in Nevada. With Deloitte forecasting a 29 per cent compound annual growth rate for EVs in the next 10 years, lithium companies with projects near manufacturing facilities will have a decided edge on the competition. While China will likely remain the dominant player for lithium battery manufacturing, carmakers are very much interested in securing domestic sources of lithium for the North American market. The long-term outlook for EVs is strong.Īs most car companies continue to release new EV models, they are also moving to lock up their supply chains, including the lithium that powers EV batteries. It’s an environment that just last month had General Motors publicly setting an aspirational goal to have its light-vehicle fleet be emission-free by 2035.
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Recent moves have put Iconic in a unique position among Nevada-focused lithium companiesīehind the notable surge of interest in EVs over the past few years is the building global consensus that green, emission-free solutions are needed to address climate change.Iconic Mineral’s flagship lithium project is in Nevada - in Tesla’s backyard.The surge of interest in electric vehicles (EVs) over the past few years is driving lithium demand.