This is exciting. Exxon is building a plant to extract brine water from underground formations in Arkansas and neighboring states to mine lithium.
This is good because right now China controls too much of the lithium industry.
Exxon Mobil, a new player in the hunt for U.S. lithium, is planning to build one of the world’s largest lithium processing facilities not far from Magnolia, with a capacity to produce 75,000 to 100,000 metric tons of lithium a year, according to people familiar with the matter.
At that scale, it would equate to about 15% of all finished lithium produced globally last year, according to one analyst.
At that scale, it would equate to about 15% of all finished lithium produced globally last year, according to one analyst.
The Wall Street Journal reported in May that Exxon purchased 120,000 gross acres in the area for a price tag of more than $100 million. A consultant for the seller had estimated the prospect could have the equivalent of 4 million tons of lithium carbonate equivalent, enough to power 50 million EVs.
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