Cars & Concepts
Arkansas’s Hidden Treasure: Massive Lithium Reserves Could Power EV Future
A study led by the U.S. Geological Survey (USGS) suggests that a lithium reserve in the southwestern region of Arkansas has the potential to meet the worldwide demand for electric vehicle batteries ninefold. This reserve is estimated to contain around 19 million tons of lithium.
Research involving water sampling and advanced computer analysis suggests that the Smackover Formation could contain anywhere from five to 19 million tons of lithium. The US Geological Survey points out that even the conservative figures surpass nine times the anticipated worldwide need for lithium in electric vehicle batteries by 2030, according to forecasts by the International Energy Agency.
The USGS has pinpointed the Smackover Formation as a possible lithium reserve in the United States.
Additionally, the Smackover Formation stretches beneath regions of Alabama, Florida, Louisiana, Mississippi, and Texas, standing as evidence of a prehistoric ocean from the Jurassic era. This geological layer is recognized for its abundant oil and bromine reserves; however, the USGS posits that lithium could potentially be mined for commercial use from the highly saline water that emerges as a byproduct of oil and natural gas retrieval processes.
According to the United States Geological Survey, over a quarter of the lithium used in the U.S. is imported. Although the U.S. possesses significant lithium reserves, domestic production declined in the 1990s due to economic constraints. As reported by CNBC in 2022, Australia, Chile, and China are the primary sources for over 80% of the world's lithium supply, with China dominating the market by handling over 50% of the lithium processing and refining activities globally.
BMW's round battery units
The United States Geological Survey has calculated that the lithium present in the waste brine from oil production in Arkansas could potentially meet the entire lithium requirement of the United States. This discovery aligns with President Biden's initiative to establish a homegrown supply chain for electric vehicles. The government has invoked the Defense Production Act to boost the production of lithium and related battery components. Moreover, it has incorporated criteria for sourcing raw materials into the federal tax credit for electric vehicles as a reinforcement to this objective.
Initiatives have been undertaken to reinitiate lithium extraction in regions with a history of production. In the year 2019, a mining firm applied for licenses to establish a novel lithium excavation site in the vicinity of Charlotte, North Carolina. This area was a hotbed for lithium mining activities, which persisted until the 1980s.
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