Sienna mulls moving forward with Nevada lithium project on industry 'uptick'

Pittsburgh — Sienna Resources will begin evaluating options for developing its Clayton Valley lithium project in Nevada, a move that follows recent strength in prices and the industry's growing interest in the state's lithium resources, the company said Jan. 19.

"There has been a significant uptick in global sentiment for lithium and lithium companies," Sienna President Jason Gigliotti said in a statement. "There has also been a tremendous focus on Nevada lithium in the recent months."

Gigliotti said electric vehicle manufacturer Tesla and global lithium leader Albemarle have led the renewed focus on Nevada's lithium properties.

Tesla CEO Elon Musk told shareholders during a presentation in September that the company was looking to produce lithium from clay deposits in Nevada to supply its nearby Tesla Gigafactory, an electric vehicle battery plant.

Meanwhile, Albemarle said Jan. 7 it was planning to double lithium production at its Silver Peak brine operations in Nevada's Clayton Valley by 2025. The company is also exploring technology that could accelerate the viability of lithium output from clay resources in the region.

Gigliotti said other smaller exploration and development companies are beginning to progress their lithium assets near Nevada's Clayton Valley.

"Sienna is currently active on multiple projects, and with a massive boom in the electric vehicle market happening globally, the exponential need for battery metals such as lithium are seeing tremendous demand," the executive added.

In addition to the Nevada property, Sienna also owns platinum group metal projects in Canada, Finland and Sweden.