ASX-listed Jindalee Lithium has engaged corporate advisers to accelerate global engagement with potential funding partners for its McDermitt lithium project, following the completion of a prefeasibility study that confirmed a 63-year project life and production of 1.8-million tonnes of lithium carbonate. 

The company is targeting long-term partnerships to support predevelopment activities, including a feasibility study, with advisory support from a Korea-based independent group and Red Cloud Financial Services in North America. 

The McDermitt project, one of the largest lithium deposits in the US, stands to benefit from the Trump administration’s latest push to secure domestic critical minerals.

On March 20, Trump signed an executive order aimed at fast-tracking domestic mineral production. The order streamlines permitting, prioritises access to federal lands, and mobilises Defense Production Act funds to support US mining projects. As McDermitt is located on federal land, Jindalee expects to benefit from these regulatory enhancements.

While lithium spot prices remain subdued, electric vehicle (EV) sales rose 30% year-to-date as of February 2025, with battery energy storage deployments nearly doubling to 23.9 GWh. 

Jindalee points out that investment in US lithium projects continues, with Lithium Americas securing a $250-million investment from Orion Resource Partners for its Thacker Pass lithium project, located 35 km from McDermitt. The project also received a $2.26-billion loan from the US Department of Energy and expanded its joint venture with General Motors.

Jindalee CEO Ian Rodger remains confident in the company’s strategy despite short-term market pressures. 

“Despite near-term headwinds in the lithium market, demand fundamentals remain strong. Our focus is on positioning McDermitt to capture the inevitable upswing. Appointing strategic advisers is a key step in securing long-term partners to support further work at McDermitt. 

"With strong alignment from US policy, momentum on permitting, and scope to further optimise the project, McDermitt is well-positioned as one of the most advanced sedimentary lithium developments in the country and we look forward to updating investors on our progress over the coming months,” he said.