Home / Business and Economy / US Lithium Firm Eyes Nasdaq Debut for Oregon Project
US Lithium Firm Eyes Nasdaq Debut for Oregon Project
9 Apr
Summary
- US Elemental plans Nasdaq debut via SPAC merger valuing firm at $573 million.
- The company seeks capital for its large lithium deposit in Oregon.
- The deal aligns with US efforts to onshore critical mineral supply chains.
US Elemental Inc., backed by Australia's Jindalee Lithium Ltd., has announced plans to merge with blank-check firm Constellation Acquisition Corp I, aiming for a Nasdaq listing in the second half of 2026. This transaction is poised to value the US lithium developer at around $573 million.
The company intends to raise capital to advance its McDermitt Lithium Project in Oregon, which boasts an estimated 21.5 million metric tons of lithium carbonate equivalent, positioning it as one of the nation's largest lithium deposits. The project's proximity to Lithium Americas Corp.'s Thacker Pass mine and its inclusion in the federal government's FAST-41 initiative, which expedites permitting for key resource developments, suggest a potential construction approval as early as June 2026.
This planned public offering occurs against a backdrop of increasing lithium prices, driven by mine disruptions and export restrictions. Furthermore, it aligns with Washington's intensified efforts to onshore supply chains for critical minerals essential for electronics, electric vehicles, and defense technology, signaling a renewed interest in domestic mining ventures.
