This is exciting. Exxon is building a plant to extract brine water from underground formations in Arkansas and neighboring states to mine lithium.
https://www.wsj.com/articles/this-ar...-boom-54ad7306
This is good because right now China controls too much of the lithium industry.
https://www.wsj.com/articles/this-ar...-boom-54ad7306
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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