Robust Growth Expected for Lithium Market as Demand Jumps Across Several Industries

Executive Summary

• US Critical Metals Corp. completed acquisition of a 50% interest in the McDermitt East Lithium Project and secured an option to acquire the remaining 50%, positioning it for full ownership and upcoming maiden drilling.
• Lithium Americas Corp. received its first $435 million drawdown from a $2.23 billion DOE loan to fund construction of processing facilities at Thacker Pass.
• Albemarle Corporation entered into definitive agreements to sell a controlling stake in Ketjen’s refining catalyst business to KPS Capital Partners and to divest its 50% interest in the Eurecat JV, generating approximately $660 million in pre‑tax proceeds.

Key Details

• US Critical Metals Corp. – Acquisition
• Closed purchase of an initial 50% interest in the McDermitt East Lithium Project (Nevada) via amended option agreement with Live Energy Minerals Corp. and Lithium Valley Holdings Corp.
• Option to acquire remaining 50% by paying CAD 25,000 within 6 months and a final payment of CAD 500,000 (cash, shares, or combination) within 24 months.
• Upon full acquisition, USCM will own 100% subject to a 2.0 % NSR royalty (1.0 % repurchasable for CAD 1 million).

• Exploration plan includes data compilation, surface sampling, target prioritization and initiation of a maiden drill program.

• Lithium Americas Corp. – DOE Loan Drawdown

• First drawdown of $435 million from a $2.23 billion guaranteed loan under the U.S. Department of Energy’s Advanced Technology Vehicles Manufacturing (ATVM) Program.

• Funds earmarked for construction of processing facilities at the Thacker Pass lithium project in Nevada.

• Albemarle Corporation – Strategic Transactions

• Definitive agreement to sell a controlling stake in Ketjen Corporation’s refining catalyst solutions business to KPS Capital Partners; post‑transaction ownership will be ~49 % Albemarle, ~51 % KPS.
• Retains 100 % of Ketjen’s Performance Catalyst Solutions (PCS) business in Pasadena, Texas.
• Simultaneously agrees to sell its entire 50 % interest in the Eurecat joint venture to Axens SA.

• Expected total pre‑tax proceeds of approximately $660 million; proceeds intended for debt reduction and general corporate purposes.

• American Battery Technology Co. – Technical Report

• Published S‑K 1300 Technical Report & Pre‑Feasibility Study (PFS) for the Tonopah Flats Lithium Project (Nevada).

• PFS confirms robust economics and strategic importance for U.S. domestic lithium supply chain; highlights competitive claystone‑to‑battery‑grade lithium hydroxide processing train.

• Tesla, Inc. – Q3 2025 Financial Results

• Released third‑quarter 2025 financial results via investor relations website; webcast held on Oct 22, 2025 for Q&A with management.

Notable Quotes

• “McDermitt East provides USCM with a major foothold in one of the strategically significant lithium basins in North America… we are now in an ideal position to advance exploration toward a maiden drill program.” – Darren Collins, CEO, US Critical Metals Corp.
• “We are excited that Thacker Pass is progressing rapidly… together, we are forging a path toward building a U.S.-domestic lithium supply chain.” – Jonathan Evans, President & CEO, Lithium Americas Corp.
• “The project metrics demonstrated in this PFS are further validation that the design for our claystone‑to‑battery‑grade lithium hydroxide processing train is highly competitive…” – Ryan Melsert, CEO, American Battery Technology Co.