JOGMEC Conclude Lithium Exploration Contract in Nevada, USA

Japan Oil, Gas & Metals National Corporation (JOGMEC), an incorporated administrative agency to assist upstream activities for mineral resources and energies, announced on Friday the agency concluded a co-exploration contract with American Lithium Minerals of US junior mining major for lithium exploration in Nevada, USA. JOGMEC expects the exploration could contribute to lithium supply diversity since 80% of global lithium resource (salt lake brine) is located in Chile, Bolivia and Argentina.

JOGMEC will invest US$ 4 million (approximately 360 million yen) for the exploration during next 3 years and gain 40% equity of the project. JOGMEC and American Lithium Minerals will explore Borate Hill area of southeast Nevada, the exploring right of which is wholly owned by American Lithium Minerals. They will carry out geological and other surveys to discover developable mineral belt.