Elektros Unveils a Bold Strategic Growth Roadmap for Its Sierra Leone Lithium Operations

Rhea-AI Summary

Elektros (NYSE:ELEK) unveiled a strategic growth roadmap for its Sierra Leone lithium operations on January 29, 2026. The company holds a 75% controlling interest in a joint venture with a local partner owning 25% and obtained an artisanal mining license in Sept 2025. Elektros has stockpiled 54 metric tons of hard-rock lithium ore, aims to ship 2–3 containers monthly to U.S. refineries, and plans to secure long-term offtake agreements and strategic investment to fund exports and scale production.

Positive

• 75% controlling interest retained in Sierra Leone joint venture
• Artisanal mining license obtained in September 2025
• Stockpile of 54 metric tons of hard-rock lithium ore ready for export
• Targeting 2–3 containers of raw lithium ore shipped monthly

Negative

• Exports contingent on securing adequate capital for shipping
• Long-term offtake agreements with U.S. refineries are not yet secured

Joint Venture Structure and Regulatory Compliance

SUNNY ISLES BEACH, FL / ACCESS Newswire / January 29, 2026 / 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.

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

Industry Commentary on Lithium's Global Importance

"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 the volumes of lithium that are necessary for electric vehicles." - 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 in order to meet the clean energy goals." - Jose Fernandez, U.S. Under Secretary of State, as reported by Reuters (June 14, 2022).

SOURCE: Elektros, Inc.

View the original press release on ACCESS Newswire

FAQ

What joint venture structure did Elektros announce for its Sierra Leone lithium project (ELEK)?

Elektros announced a joint venture with a local partner holding 25% equity and Elektros retaining 75%. According to the company, the local partner will manage on-site operations, licensing, labor, packaging and shipment logistics under Sierra Leone regulatory requirements.

How much lithium ore has Elektros (ELEK) stockpiled in Sierra Leone and when was the license obtained?

Elektros has stockpiled approximately 54 metric tons of hard-rock lithium ore ready for export. According to the company, an artisanal mining license was obtained in September 2025, enabling current extraction and stockpiling activities.

What are Elektros' near-term shipment targets for lithium ore from Sierra Leone (ELEK)?

Elektros aims to execute regular shipments of two to three containers monthly to bi-monthly to the United States. According to the company, shipments depend on securing sufficient capital for shipping and finalizing export logistics.

How does Elektros plan to supply U.S. lithium refineries and scale operations (ELEK)?

Elektros plans to position itself as a reliable supplier to U.S. refineries and secure long-term offtake agreements. According to the company, it seeks strategic investors to fund shipping and scale extraction to join the global battery materials supply chain.

What are the primary risks to Elektros' Sierra Leone lithium exports (ELEK)?

Primary risks include the need to secure shipping capital and finalize offtake agreements with refineries. According to the company, export timing and revenue depend on funding, logistics, and successful contract negotiations.