Last year, the U.S. made major lithium breakthroughs with the potential to make the country self-sufficient in the critical battery metal for decades.

Could The U.S. Become Lithium Independent?

submited by

Style Pass

2024-04-24 18:30:12

Last year, the U.S. made major lithium breakthroughs with the potential to make the country self-sufficient in the critical battery metal for decades. In September, a group of scientists funded by Lithium Americas Corporation (NYSE:LAC) reported that the McDermitt Caldera, a volcanic crater on the Nevada-Oregon border, houses 20 to 40 million metric tons of lithium deposits. For perspective, that volume is nearly double the 23 million metric tonnes found in Bolivia.

In December, the U.S. Department of Energy announced that it had confirmed that a massive lithium deposit tucked underneath California’s Salton Sea has a resource of more than 3,400 kilotons of lithium--enough to support over 375 million batteries for electric vehicles. Both estimates dwarf the 14 million metric tonnes of lithium resource the U.S. Geological Survey has so far managed to map.

Well, the Biden administration appears to be wasting no time trying to achieve the American dream of energy independence. After a dozen years of engineering, permitting and financing, Australia's Controlled Thermal Resources has finally begun construction of their Salton Sea lithium mine and geothermal power plant. The project will initially produce 25,000 metric tons of lithium hydroxide per year and potentially up to 175,000 metric tons once completed. The plant will also generate 350 megawatts of round-the-clock geothermal power--the DoE estimates that Salton Sea’s Known Geothermal Resource Area (KGRA) has about 2,950 megawatts (MW) of geothermal electricity generation capacity. Related: Russia Is Bringing Back Refining Capacity Hit by Ukrainian Drones