Arkansas' Smackover Formation is emerging as a critical source of lithium, attracting significant investments from major players like ExxonMobil and Koch Industries as the US aims to ramp up domestic lithium production.
The United States is vying to become competitive in global lithium production as demand picks up for the “critical mineral”. Although a commonplace alkali metal, lithium is becoming known in the energy and mining sectors as ‘white gold’ due to its central role in rechargeable batteries.
ExxonMobil’s Dan Holton recently told the Economist in June that a “material” portion of the $20 billion that the oil supermajor has earmarked for low-carbon investments from 2022 to 2027 will be funneled to the lithium sector. “By 2030 the company hopes to produce enough lithium to supply 1m electric vehicles a year,” the Economist reports.
Lithium Mining Arkansas Lithium Smackover Formation Exxonmobil Koch Industries Lithium Production Electric Vehicles Renewable Energy Energy Transition
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global Lithium rejects shareholder call to remove directorsCompany denotes 249D notice as invalid and ineffective
Read more »
Lithium Market Potential Evaluating Supply and Demand DynamicsUnveiling the complexities and potential of the global lithium market, this article analyzes the factors driving lithium demand, potential growth inhibitors, and the implications for sustainable energy initiatives.
Read more »
Rio Tinto's $2.55 Billion Lithium Project Hangs in the BalanceMassive protests in Serbia jeopardize Rio Tinto's lithium mine project, highlighting the clash between Europe's green ambitions and local environmental and nationalist concerns.
Read more »
Charging up lithium supplyIs direct lithium extraction the key to a booming battery future?
Read more »
Chile's lithium production expected to reach 285,000t in 2025The country exported US$1.6B of lithium in the first five months of 2024
Read more »
Sibanye-Stillwater wins funding for Finland lithium plantPGM miner pivots to battery materials
Read more »