The plans for a plant with 100,000 tonnes of annual capacity are a bullish bet on the future of American lithium demand.

Widgie Nickel emerged from a trading halt Monday to rocket higher after the Perth-based company released assays from its Mt Edwards Project in Western Australia. 

Several battery production plants are being planned in Norway already, including projects by Morrow, Freyr, Beyonder, and Corvus.

The Toronto-based firm has royalties on projects in countries including Canada, Australia and the US.

The US is already sharing information with countries seeking foreign funding for mining projects and allied governments, foreign mining companies and financial institutions that can help kick-start projects.

The “Qilin” battery has a range of more than 1,000 kilometers on one charge, energy density of up to 255 watt-hours per kilogram, and is safer and more durable than existing cells, according to CATL.