Exxon wants to become a leader in lithium production
Even as it doubles its oil production, mostly in the US, ExxonMobil unveiled plans Monday to produce lithium in Arkansas, aiming to become a leading supplier of the key metal for electric vehicles (EVs) by 2030.
Exxon has announced plans to become a leading lithium producer, the US multinational oil and gas company said in a statement. The company has already begun work on a first phase of North American lithium production in southwest Arkansas, an area known to contain significant lithium deposits.
Southwest Arkansas could be the hot spot for lithium production in America, as the Permian now is for oil, as mining companies and oil and gas supermajors look to make more use of the nation's lithium resources. US lithium to reduce dependence on China.
In early 2023, ExxonMobil acquired rights to 485 hectares of the Smackover mining formation in southern Arkansas, considered one of the most prolific lithium resources of its kind in North America.
“The product offering will be called Mobil Lithium, building on Mobil's rich history of deep technical partnership with the automotive industry,” Exxon said today.
The company plans to use direct lithium extraction (DLE) technology to separate lithium from saltwater, after using conventional oil and gas drilling methods to access lithium-rich saltwater from reservoirs approximately 10,000 feet underground.
“This historic project applies decades of ExxonMobil expertise to unlock vast supplies of North American lithium with far less environmental impact than traditional mining operations,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions.
Exxon is targeting its first lithium production for 2027 and is evaluating additional growth opportunities in lithium globally.
“By 2030, ExxonMobil aims to produce enough lithium to meet the production needs of more than one million electric vehicles per year,” he said, adding that discussions are ongoing with potential customers, including electric vehicle and battery manufacturers.
Exxon therefore wants to broaden its range of action and remain queen also in the world of EV mobility. We will see if it will expand its production outside the USA, taking advantage of its contacts and its own
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The article Exxon wants to become a leader in lithium production comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/exxon-vuole-diventare-leader-nella-produzione-del-litio/ on Mon, 13 Nov 2023 20:43:33 +0000.