August 14, 2023
Summit Nanotech, an award-winning sustainable lithium extraction technology company, and Power Minerals, a mineral resources exploration company, today announced they have entered into a binding term sheet leading toward a joint venture agreement to accelerate lithium production through shared asset ownership and development at the Salar de Incahuasi in Argentina.
This comes as the lithium market experiences unprecedented growth due to the increasing demand for lithium-ion batteries, particularly in the race to mass produce electric vehicles.
