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Discovery May Position The US As A Global Leader In The Production Of “White Gold” Contested Among Countries
A changing landscape that could challenge the current leadership of countries like Australia and South American nations is the discovery of a significant lithium reserve in Arkansas. Currently, the United States represents only 5% of the global demand for lithium, a number that proves insufficient to meet the rapidly growing electric vehicle industry. Therefore, this new discovery may revolutionize the country’s ability to meet this growing demand, as well as contribute to energy security and economic independence, according to the website Olhar Digital.
The Race For Lithium Extraction
Recently, the news of the discovery attracted the attention of several companies, but ExxonMobil stands out as the main candidate for mineral extraction. The oil giant plans to start its operations in 2027 and has already conducted exploratory drilling in the region. Additionally, ExxonMobil announced its ambition to become a lithium supplier for electric vehicles, having acquired drilling rights in an area of 485 square kilometers within the Smackover Formation.
To access the lithium-rich brine, located about 3,000 meters deep, the company plans to use traditional drilling techniques. However, to maximize extraction efficiency, it will be necessary to develop a new technology known as direct lithium extraction (DLE). This method involves the use of chemical solvents or filters to separate lithium from water. One of the main benefits of DLE is that it may consume less energy than conventional mining methods.
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China could reduce iron ore imports from 80% to 50% of consumption by 2030, while its share in global steel production falls from 52% to 46%, in a shift that could reshape the global market, says CMRG.
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Brazil is sitting on one of the largest lithium reserves in the world, in the Jequitinhonha Valley, but national mining has almost become an appendage of China: 97% of the metal’s export goes to a single country, which also dominates refining.
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Iron ore falls to 762 yuan in China as real estate sales decline and steel production hits lowest level since 2018
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Brazil has minerals, clean energy, and a waiting market, but it could miss a billion-dollar opportunity if it doesn’t speed up the race for green minerals, while the steel industry seeks to reduce emissions.
Environmental Concerns In The US
Despite the promises of technological and economic advancement, lithium extraction is not without challenges. In this way, the United States government will need to consider the environmental impact of extraction before approving any operation. Issues related to water usage, pollution, and environmental degradation are concerns that need to be carefully assessed.
Furthermore, the race for lithium raises questions about the sustainability of producing this mineral. With the increasing demand for electric vehicles and the need for a transition to cleaner energy sources, balancing the exploitation of natural resources and environmental protection will be crucial.
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