S&P Global Speaks to Tellurium Supply Concerns, China’s Dominance, Biden’s Bill and First Solar
Vancouver, BC, Jan. 19, 2022 (GLOBE NEWSWIRE) — First Tellurium Corp. (CSE: FTEL) (the “Company” or “First Tellurium”), CEO Tyrone Docherty said in a recent article published by S&P Global Market Intelligence, “There’s going to be a supply crunch, no question about it.”
The article outlines the demand for solar panels and the American government’s wish to become less reliant on China for both finished products and raw materials. So much so that the U.S. International Finance Corp. is going to lend First Solar $500 million to expand its production in India rather than China.
First Solar is one of the world’s largest manufacturers of solar panels with a market cap of nearly USD 12 billion and trades on the NASDAQ market.
First Solar, held out as a flagship company by the Biden administration, relies heavily on tellurium for the construction of its solar panels. It is anticipated that First Solar’s expansion plans will require 70% more tellurium than was produced globally last year.
First Tellurium was conceived to meet the rising tellurium demand locally.
“Not a day goes by I don’t read something about tellurium,” explained Tyrone Docherty, CEO of First Tellurium. “The writing has been on the wall for a while and tellurium is soon to have its day in the sun. Its demand, price and awareness are all about to rise significantly. At First Tellurium, we have strategically positioned ourselves to be an integral part of the North American supply chain as our industry gains additional credibility daily. With the support of private industry and governments, we intend to help mitigate the dependence on foreign supply of this important element.”
The full article may be read at https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/first-solar-s-growth-plans-hinge-on-opaque-market-for-tellurium-68010925
About First Tellurium Corp.
First Tellurium’s unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration.
Our polymetallic (tellurium, gold, silver copper, tungsten) Deer Horn Project in British Columbia and Klondike tellurium-gold property in Colorado anchor a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships.
First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.
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All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event.