First Tellurium Reports on Two Major Publications Highlighting Supply Issues for Tellurium and Other Critical Metals

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[{"type":"text","content":"Fraser Institute projects tellurium requirements could increase 800% by 2030. Vancouver, BC - TheNewswire -  Dec 6, 2023 - First Tellurium Corp. (CSE:FTEL) (OTC:FSTTF), reports that recent reports from The Financial Times of London and Canada’s Fraser Institute highlight rapidly-growing supply issues around critical metals, especially tellurium. The Fraser Institute, predicting “exponential growth” in demand for electric vehicle batteries, forecast that supply requirements for tellurium could increase by over 800% by 2030. in a December 1, 2023 article, the Financial Times reported on the Biden administration’s new restrictions on Chinese-made battery components for electric vehicles. Beginning January 1, 2024, no US-manufactured EVs that include Chinese-made battery components will be eligible for the full subsidies offered under President Biden’s $369-billion Inflation Reduction Act. John Podesta, Biden’s top clean energy advisor, stated, “With this guidance and the clarity that it will provide, we’re ensuring that the US electric vehicle future will be made in America.” The rules will force EV and battery manufacturers to source far more critical metals from domestic sources. China currently accounts for almost two-thirds of the world’s lithium processing capacity, 75% of its cobalt capacity, and nearly 60% of its tellurium processing capacity. “The new rules open up significant opportunities for us,” said First Tellurium President and CEO Tyrone Docherty. “Revolutionary new EV batteries, using domestically sourced tellurium, could greatly increase the need to source tellurium from Canada and the U.S. Add this to the forty percent of global tellurium already used by the solar industry, a figure that’s expected to grow significantly according to S&P Global, and you can see how the supply crunch is adding up.” As reported by First Tellurium in March 2023 and also in 2022, new solid state, lithium-tellurium (LiTe) batteries are under development by First Tellurium strategic partner Fenix Advanced Materials and the University of British Columbia Okanagan (UBCO). Fenix reports the batteries are significantly more efficient and safer than current lithium-ion batteries, offering far higher charging capacities, much smaller size and a life up to 400% that of lithium-ion batteries. If widely adopted, LiTe batteries would put ...

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