(CTN News) – ExxonMobil has announced plans to build a lithium production plant in southwest Arkansas. The company intends to market its business under the name Mobil Lithium.
ExxonMobil recently obtained the rights to royalties for 120,000 acres in Arkansas’ Smackover Formation, known for its lithium deposits.
The recent announcement signifies the initial stage of their lithium production venture in North America. This strategic move aims to establish a reliable supply of lithium for energy storage systems, major electronic devices, and electric vehicles powered by lithium-ion batteries.
The company has set its sights on commencing lithium production in 2027, with the ambitious goal of generating sufficient lithium to support over 1 million electric cars each year by 2030.
ExxonMobil has provided an explanation regarding its approach to accessing the lithium-rich brine, which involves utilizing conventional oil and gas exploration methods at a depth of approximately 10,000 feet beneath the surface.
In order to extract the lithium from the brine, the company intends to employ direct lithium extraction technology. This innovative technique not only minimizes carbon emissions but also requires less land compared to traditional hard rock mining methods.
Furthermore, ExxonMobil plans to convert the extracted lithium into battery material directly at the site. Simultaneously, the company aims to store the remaining brine in underground storage tanks through reinjection.
Dan Ammann, the president of low-carbon solutions at ExxonMobil, believes that this project has the potential to enhance energy security in North America,
Expand the availability of crucial industrial materials, and contribute to the reduction of emissions associated with transportation.
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