Arkansas Lithium Find Could Supply Nine Times 2030 Car Battery Demand

Oct 22, 2024, 03:30 PM

Researchers have estimated that southwestern Arkansas' Smackover Formation may hold between 5 million and 19 million tons of lithium, enough to supply nine times the global demand for car batteries in 2030. Using machine learning techniques, the study revealed that the underground brine reservoir in the Fourth District of Arkansas could make the state a significant player in the lithium market. Lithium is a critical component for electric vehicle batteries and renewable energy storage. Exxon Mobil and other companies are developing projects to extract lithium from these underground brine deposits. However, challenges remain in accessing the resource efficiently. This discovery could alleviate concerns about future supply crunches in lithium, which is vital for the green energy revolution.