SUNNY ISLES BEACH, FL / ACCESS Newswire / January 29, 2026 / Elektros Inc. (OTC PINK:ELEK), a developer of lithium mining operations in Sierra Leone, announces strategic objectives for its Sierra Leone Lithium mining project.
Joint Venture Structure and Regulatory Compliance
On August 15, 2024, the Company executed a joint venture ground lease agreement for mineral rights within the Tinkoko Chiefdom of Bo District in southern Sierra Leone.
Under this arrangement, our local operating partner will oversee on-site operations, licensing administration, labor management, packaging, and shipment logistics.
To ensure full compliance with Sierra Leone's existing regulatory requirements-which stipulate that mining licenses and operational management be held exclusively by Sierra Leonean citizens-the partnership agreement establishes our operating partner as a 25% equity stakeholder, with the Company retaining a 75% controlling interest in the enterprise.
As of September 2025, the Company has obtained an artisanal mining license for its lithium project in Sierra Leone.
Operational Mission and Current Status
The joint venture is focused on the extraction, packaging, and export of raw lithium ore from Sierra Leone to the United States. The Company has currently stockpiled approximately 54 metric tons of hard-rock lithium ore at the mining site, prepared for export pending the securing of adequate capital for shipping costs.
The Company believes its growing stockpile and on-the-ground operational readiness support near-term export execution, while creating a foundation for scalable throughput and recurring shipment cadence as additional working capital is secured.
Elektro's objective is to establish itself as a reliable supplier to U.S.-based lithium refineries, supporting the conversion of raw materials into battery-grade lithium for the rapidly expanding electric vehicle and energy storage markets.
Near-Term Strategic Objectives:
Establish and maintain continuous lithium extraction and export operations from Sierra Leone
Execute regular shipments of two to three containers of raw lithium ore on a monthly to bi-monthly basis to the United States
Secure long-term offtake agreements with U.S. lithium refineries
Position the Company as a strategic participant within the global battery materials supply chain
Attract strategic investment partners and scale operations to achieve leadership positioning in the lithium supply sector
Recent Demand for Lithium Projects
In 2025, the U.S. Department of Energy highlighted surging lithium demand by restructuring a multi-billion-dollar federal loan and taking 5% equity stakes in Lithium Americas and its Thacker Pass joint venture, a Nevada project slated to produce 40,000 metric tons of battery-grade lithium carbonate annually-enough for about 800,000 electric vehicles. At the same time, the European Union launched a €3 billion ResourceEU program to support 25 strategic critical-materials projects, including lithium initiatives to reduce reliance on foreign lithium, cobalt and graphite by 2030.
Against this backdrop of strong government investment and tightening supply, we feel Elektros' lithium business direction is well-positioned to serve growing demand from both public and private buyers.
About Elektros, Inc.
Elektros Inc. (OTC PINK:ELEK) business plan is to develop an artisanal mining operation based in Sierra Leone, Africa. This operation focuses on hard-rock lithium exploration, development, and the eventual exportation of the mined material to lithium refineries in the United States. www.elektros.energy
Cautionary Language Concerning Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties. For more details, please refer to the Company's SEC filings at www.sec.gov. Elektros, Inc. undertakes no obligation to update any forward-looking statements.
Contact:
Elektros, Inc.
IR and Media Inquiries
Email: ElektrosInc@gmail.com
Selected Industry Quotes on Lithium
"Price of lithium has gone to insane levels! Tesla might actually have to get into the mining & refining directly at scale, unless costs improve." - Elon Musk, CEO of Tesla (April 8, 2022).
"New technology is absolutely essential for society to obtain enough lithium." - Dave Snydacker, CEO of Lilac Solutions, as reported by Reuters (April 7, 2022).
"You will need six times more lithium by 2050 than you use today." - U.S. Assistant Secretary of State, as reported by Reuters (June 14, 2022).
SOURCE: Elektros, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/automotive/elektros-ignites-strategic-expansion-plan-for-sierra-leone-lithium-operations-to-support-1131613
