News & Current Events
Massive Lithium Discovery In Arkansas Could Power Global EVs For Years
In the competition for sustainable energy, the US has recently been winning.
Researchers have discovered another groundbreaking lithium discovery after discovering a huge $1.5 trillion lithium deposit inside a supervolcano on the Nevada–Oregon boundary.
Scientists have discovered between five and 19 million tonnes of lithium reserves beneath southwestern Arkansas, according to a study led by the US Geological Survey (USGS). The scientists estimated the amount of lithium present in the Smackover, a subterranean saltwater formation, using sophisticated water testing and machine learning. Lithium might supply the world’s electric vehicle battery needs nine times over in 2030 if it is harvested successfully.
How will the lithium be extracted?
According to a press release from the firm, ExxonMobil, one of the largest oil companies in America, has already inked an agreement with SK On, a multinational battery manufacturer, to “supply lithium for about 1 million EV batteries annually by 2030 and support the build out of a U.S. EV supply chain.”
Using rigs akin to those used on oil rigs, a succession of wells will be drilled into the rock around 10,000 feet below the surface.
Before the lithium is extracted from the brine using a process known as direct lithium extraction (DLE) technology, the saltwater that contains the lithium in the Smackover will rise to the surface of the wells.
Why are lithium deposits so valuable?
One of the most sought-after minerals in the world, lithium is a necessary component of electric vehicle (EV) batteries.
The US is keen to lessen its need on foreign lithium as EV production and the push for renewable energy grow, particularly when major resource supply lines are threatened by international war.
“Lithium is a critical mineral for the energy transition, and the potential for increased U.S. production to replace imports has implications for employment, manufacturing and supply-chain resilience,” said David Applegate, USGS Director.
Katherine Knierim, a hydrologist and the study’s principal researcher, added: “Our research was able to estimate total lithium present in the southwestern portion of the Smackover in Arkansas for the first time.”
“We estimate there is enough dissolved lithium present in that region to replace US imports of lithium and more.”
Why Elon Musk calls lithium the ‘new oil’
Elon Musk, the CEO of SpaceX and Tesla, started building his own lithium refinery in Texas, spending an incredible $365 million on the project.
The tech tycoon referred to the refinery as a “money-printing machine“ and claimed that it could generate enough lithium annually to enable the creation of batteries for one million electric cars. As a result, Tesla would rank among the biggest lithium processors in North America and play a significant role in changing the global EV market.
Given that the richest man in the world once referred to lithium batteries as “the new oil,” this is a wise move as Tesla enters a market that has historically been known for its oil wealth.
“Lithium refining is in high demand,” according to The Motley Fool, an investment website. “Tesla has been working hard to get its lithium refinery up and running, and the lithium hydroxide it will produce will be used as a component in the battery cells manufactured at Tesla’s Gigafactory.”
“Earlier this year, the company revealed that it was expanding its facility in Nevada to include a 100-GWh 4680 cell factory, which will be capable of producing enough batteries to equip roughly 1.5 million light-duty EVs each year.”
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