Iron Forge is a private British Columbia mineral exploration company which holds an exploration property comprised of 46 placer leases, covering a total area of 947 acres (383 hectares) located in portions of Sections 11 and 23 of Township 5 North – Range 35 East, Mount Diablo Meridian, Mineral County, west-central Nevada, called the Rhodes Marsh property (the “Rhodes Marsh Property”). The Rhodes Marsh Property is located approximately 65 km by road south of Hawthorne, Nevada and approximately 350 kilometers northwest of Las Vegas, Nevada. Surrounding the Rhodes Marsh Property are the Pilot Mountains to the east and the Excelsior Mountains to the west. Historically the Rhodes Marsh area was a source of salt and boron production in the late 1800s. Iron Forge intends to explore the Rhodes Marsh property searching for a lithium brine resource.
Accelerating Lithium Demand
Lithium is a critical mineral in today’s rapidly growing battery and clean energy technologies. Lithium demand is expected to quadruple this decade, driven by lithium’s growing diversity and effectiveness in high capacity rechargeable battery applications, especially electric vehicles (EVS). Lithium is also used extensively for consumer electronics and renewable resources such as solar panels and wind turbines, which require high-capacity stable electricity storage.
Lithium Macroeconomic Trends
“Excluding U.S. production, worldwide lithium production in 2021 increased by 21% to approximately 100,000 tons from 82,500 tons in 2020 in response to strong demand from the lithium-ion battery market and increased prices of lithium. Global consumption of lithium in 2021 was estimated to be 93,000 tons, a 33% increase from 70,000 tons in 2020.- USGS Mineral Commodity Summaries 2022 – Lithium
Lithium Demand Driven by Electric Vehicles
Global Lithium Supply Shortage
Skyrocketing Lithium Prices
Lithium Prices Skyrocketing to All-Time Highs, with Lithium carbonate prices have increased to over US $70,000/t
Critical Need for
Geopolitical Risk: Reliance on Overseas Supply
Lacking Domestic Lithium Supply
The U.S. is extremely lacking in production of lithium and lithium batteries, and a critical supply gap exists for lithium in North America.
Critical Need for Domestic Production
North America Independence
North America needs a significant increase in lithium production for America’s clean energy future – we urgently need to build up the domestic capacity to source and produce lithium in North America.
Regulators and Manufacturers Driving Change
Biden’s $3B investment into U.S. Battery Supply Chain Feb 2022 (Bipartisan Infrastructure Law), and up to 40X demand for lithium over the coming decades (Made in America Supply Chain for Critical Minerals)