Barrel Energy Inc., Las Vegas, Nevada, United States, (OTC: BRRL) has provided an update on the company’s recent activities: the CEO of Barrel Energy Mr. Craig Alford is, at this time, also assisting Altair International Corp. (OTC: ATAO) to develop ATAO’s prized lithium/rare earth and gold assets in Nevada. Mr. Alford was also the founder of American Battery Metals Corp. (ABML:OTCQB). The Chairman of Barrel Energy, Mr. Harp Sangha and Mr. Alford are also the founders of Lithium Now.
Global demand for lithium and other battery raw materials is expected to rise dramatically over this decade. The outlook for lithium will outstrip production with global demand for lithium expected to increase 650% by 2027. Market demand for lithium has been predicted to be a staggering 470,000mt by 2025. Each 1% increase in new global Electric Vehicles sales could further increase lithium demand by 70,000mt, nearly representing the total of last year’s annual production of lithium.
Barrel has recently been in discussions with St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1), a Canadian public company engaged in the development of new lithium extraction technologies regarding several sites for their lithium processing technology centers within the southwest U.S.
Barrel is considering location sites with a specific eye toward cost efficiency and process permitting. Access to infrastructure, sufficient power, transport and nearby source material and demand are all factors for project viability. “Our lead development site is situated on a roughly 30 acre property that is now zoned for industrial activities located in Nevada just 18.5 miles from the Tesla Gigafactory 1”, the company says.
About Barrel
Barrel Energy Inc., (OTC Markets: BRLL) is focused on several ventures within the energy and minerals sector and the rapid development of valuable production opportunities throughout North America.
