Yahoo Finance MGX and Belmont Form Nevada Lithium Joint Venture at Kibby Basin
MGX Targets US Lithium Brine Acquisitions for its RapidExtraction Technology
ZURICH, SWITZERLAND/ ACCESSWIRE / July 13, 2018 / In light of the pressing need for a new US lithium supply under the new tariff regime under the Trump Administration, MGX Minerals Inc. (CSE: XMG; OTCQB: MGXMF; Frankfurt: 1MG) today announced a strategic joint venture with Belmont Resources Inc. (TSX.V: BEA; Frankfurt: L3L1), entering into a Property Option Agreement to acquire up to 50% interest in Belmont’s flagship Kibby Basin Lithium Brine Property, located some 50 km north of the Clayton Valley and thus closer to Tesla’s Gigafactory near Sparks, Nevada.
With the overappropriated Clayton Valley hosting the only lithium mine on US soil and a potential trade war escalating between China and the US at the very moment, the spotlight is, and will be, on domestic production of batteries and strategic commodities like lithium as such have officially been deemed critical to the economic and national security of the US.
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SOURCE: Rockstone Research
