Lithium CEO Pledges to Forge Ahead on Project Without US Grant

American Battery Technology Co. will continue work on a more than $2 billion lithium mine and refinery project in the Nevada desert despite cancellation of a US Department of Energy grant.

The battery-metals recycler lost more than one-third of its market value on Thursday after disclosing the termination of a government grant intended to help finance plant construction. American Battery is the latest clean-energy company stung by President Donald Trump’s reversal of Biden-era green policies and incentives.

“We’re still going to go forward,” Chief Executive Officer Ryan Melsert said in an interview, adding that completion is still targeted ...