Nevada Brine and US Rare Earths: The Push for Domestic Supply

On October 14th, Mizuho upgraded Albemarle (ALB), citing surging energy storage demand. The next day, Canaccord Genuity upgraded Lithium Americas (LAC) to Speculative Buy from Hold. These moves highlight a persistent theme: the market sees a growing need for battery minerals. But the real story isn't just demand; it is the scramble to secure domestic supply chains, particularly for lithium and rare earth elements. The challenge for smaller players is not just finding the minerals, but refining them into usable products.

The Chemical Challenge of Battery Minerals

Extracting lithium from brine deposits or hard rock is only the first step. The critical bottleneck often lies in refining these raw materials into battery-grade compounds. For lithium, this means producing lithium hydroxide or lithium carbonate with purity levels exceeding 99.5%. Brine operations, common in Nevada, typically involve pumping mineral-rich water from underground aquifers, then using evaporation ponds or direct lithium extraction (DLE) technologies to concentrate the lithium. Evaporation is slow and land-intensive. DLE promises faster, more efficient recovery and a smaller environmental footprint, but it requires specific chemical reagents and filtration systems tailored to the unique chemistry of each brine. The wrong DLE method for a particular brine can lead to low recovery rates, high operating costs, or an inability to meet purity specifications. Rare earth elements present an even more complex processing challenge. These 17 elements occur together in ore bodies and have very similar chemical properties. Separating them into individual, high-purity oxides, a process known as solvent extraction, involves hundreds of stages. Each stage uses different organic solvents and aqueous solutions to selectively pull out one rare earth element at a time. This process is energy-intensive, requires specialized chemical expertise, and generates significant waste. The difficulty of achieving high-purity separation is why China dominates the rare earth supply chain, having invested decades in mastering this intricate chemistry. Without domestic separation capabilities, even a successful rare earth mine still relies on overseas processing.

Operators in the Domestic Battery Mineral Space

Several companies are working to build out US-based supply for these critical minerals. In the lithium brine sector, ioneer Ltd (IONR) is developing its Rhyolite Ridge project in Nevada. This project is unique because it is a lithium-boron deposit, meaning it aims to produce both lithium carbonate and boric acid. The co-production of boron, a critical component in various industrial applications, could offer a diversified revenue stream. Standard Lithium Ltd. (SLI) focuses on DLE from brine resources in Arkansas, specifically targeting brine from existing bromine production facilities. This co-location strategy aims to leverage existing infrastructure and reduce development timelines. SLI recently appointed Ralph Alexander to its board, signaling a focus on operational expertise. Atlas Lithium Corporation (ATLX) is advancing its hard rock lithium project in Brazil, but its listing on Nasdaq positions it to serve the broader North American market. In the rare earth space, MP Materials (MP) operates the Mountain Pass mine in California, the only integrated rare earth mining and processing site in North America. MP Materials ships rare earth concentrate to China for final separation, though it is investing in its own separation facility at Mountain Pass. USA Rare Earth, Inc. (USAR) is developing the Round Top heavy rare earth and critical minerals project in Texas. Round Top is notable for its unusually high concentrations of heavy rare earths, which are particularly difficult to source outside of China. Critical Metals Corp. (CRML) is working on projects in Europe, but its listing and focus on strategic metals connect it to the broader Western supply chain efforts. NioCorp Developments Ltd. (NB) is developing a niobium, scandium, and titanium project in Nebraska, with the potential to also produce rare earth elements as a byproduct. American Battery Technology Company (ABAT) is focused on lithium-ion battery recycling and the development of proprietary lithium extraction technologies for primary resources, aiming to close the loop on battery materials.

American Lithium Minerals, Inc.

American Lithium Minerals, Inc. (AMLM) is an exploration stage company, trading over the counter. Its stated focus is lithium and boron properties in Nevada. The company’s primary asset is the Sarcobatus Lithium property, comprising 1,780 acres of mining claims in Central Nevada. AMLM was incorporated in Nevada in 2005 and has focused its activities on lithium exploration in Central Nevada since 2009. The company has also acquired and divested cobalt, nickel, and graphite prospects in Central Nevada, and rare earth element projects in Kingman, Arizona and Southeast Illinois. The public record does not yet establish a measured or indicated resource for the Sarcobatus property. AMLM's plan includes expanding its exploration and acquisition for mineral properties worldwide. The company is also developing the use of Real World Asset Tokens to provide capital for mining operations, aiming to create an interoperable ecosystem for asset acquisition, tokenization, and trading. On October 15th, AMLM announced the appointment of independent directors and the launch of a shareholder ambassador program. The company’s Regulation A offering, qualified on February 4, 2026, covers up to 80,000,000 units, each including one share of common stock and a warrant to purchase 1.5 shares. These warrants are exercisable at $0.05 per share until December 31, 2028.

What to watch

The coming months will bring several key developments for domestic battery mineral projects. For ioneer Ltd (IONR), watch for updates on its permitting process for Rhyolite Ridge, particularly regarding environmental impact assessments and federal approvals. Standard Lithium Ltd. (SLI) will likely provide further details on its DLE pilot plant performance in Arkansas and any progress on commercial-scale facility plans. For MP Materials (MP), the crucial milestones will be related to the commissioning and ramp-up of its rare earth separation facilities at Mountain Pass. Any announcements regarding the successful production of separated rare earth oxides will be significant. USA Rare Earth, Inc. (USAR) investors should look for updates on the metallurgical testing and economic studies for the Round Top project, as well as any progress on securing government funding or strategic partnerships. For American Lithium Minerals, Inc. (AMLM), the focus will be on further exploration results from the Sarcobatus property and any progress on the development of its Real World Asset Token initiative., { "label": "Concentrate", "note": "Initial upgrade of ore, removes waste rock" }, { "label": "Refine / Separate", "note": "Chemical processing to battery-grade lithium or separated REOs", "metric": "99.5% purity" }, { "label": "Component Mfg.", "note": "Cathodes, anodes, electrolytes for batteries" }, { "label": "Battery Assembly", "note": "Cells and packs for EVs and energy storage" } ], "highlight": 2, "highlight_note": "Complex chemistry, high energy, and specialized expertise needed for purity.", "footnote": "PubCo Insight Analysis of Public Filings and News" }