Arkansas May Have Vast Lithium Reserves, Researchers Say

Published On Oct 21, 2024, 2:07 PM

Researchers have discovered a significant lithium reserve in Arkansas, estimating between 5 million to 19 million tons, which could meet global demand for lithium used in electric vehicle batteries. Several companies, including Exxon Mobil, are exploring extraction methods from underground brine. This discovery aligns with the U.S. government's push to increase domestic production of lithium to enhance supply chain resilience and reduce reliance on imports. Exxon plans to start production by 2027, potentially supplying lithium for over a million electric vehicles annually by 2030.

Read full article

Stock Forecasts

XOMView XOM chart on TradingView

Positive

The discovery of substantial lithium reserves in Arkansas is likely to bolster Exxon Mobil's position in the lithium market, especially as the demand for electric vehicle batteries continues to rise. With plans to ramp up production, Exxon could benefit significantly from increasing lithium prices and demand in the electric vehicle sector.

Related News

Hurricane Milton leaves thousands of Florida gas stations without fuel

Oct 10, 2024, 2:33 PM

There are nearly 2,000 gas stations that are out of fuel in Florida a day after Hurricane Milton slammed into the state. It's the second major storm in recent weeks.

XOM
CVX

Hurricane Milton hampers gasoline supply chain

Oct 10, 2024, 6:00 AM

Hurricane Milton's landfall in Florida has disrupted gas supplies after many residents stocked up on gas and diesel for their evacuation ride out of the area and to power generators.

XOM
CVX
COP
SHEL

Hurricane Milton drives gas shortage in Florida as residents flee storm

Oct 8, 2024, 1:35 PM

Hurricane Milton is already impacting the fuel supply in Florida with pumps near Tampa and Orlando running dry as people flee to safer areas.

XOM
BP