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Oil was the “black gold” of the final century, and lithium may be referred to as the “white gold” or “silvery-white gold” of this century. (Nobody calls it that, however that’s okay.) So, it’s solely becoming that Exxon is planning to extract and promote a few of this white gold now. In a current announcement, the oil firm shared that it had signed a lithium offtake settlement with LG Chem.
It’s an offtake settlement for 100,000 tons of lithium carbonate, and the purpose is to strengthen the important mineral provide chain within the US.
“The lithium shall be equipped from ExxonMobil’s deliberate mission within the US to LG Chem’s cathode plant in Tennessee, which LG Chem expects to be the biggest of its form within the US,” Exxon writes.
“Constructing a lithium provide chain with ExxonMobil, one of many world’s largest power firms, holds nice significance,” mentioned Shin Hak-cheol, CEO of LG Chem. “We are going to proceed to strengthen LG Chem’s competitiveness within the international provide chain for important minerals.”
“America wants safe home provide of important minerals like lithium. ExxonMobil is proud to paved the way in establishing home lithium manufacturing, creating jobs, driving financial development, and enhancing power safety right here in the US,” Dan Ammann, President, Low Carbon Options.
Let’s not make any mistake — I’m in no way pleased with or accepting of Exxon’s many years of lies concerning international heating, local weather change, and air pollution. But it surely’s higher to now have Exxon contributing one thing to the EV motion and utilizing the assets and expertise it has to offer lithium carbonate to battery firms.
“The deliberate manufacturing of Mobil™ Lithium will make the most of Direct Lithium Extraction (DLE) know-how, aligning seamlessly with ExxonMobil’s core competencies in subsurface exploration, drilling, and chemical processing,” Exxon provides. “This strategy provides US EV battery producers a domestically extracted and processed lithium provide possibility which is predicted to have considerably decrease environmental impacts, together with roughly two-thirds much less carbon depth than onerous rock mining.” Hmm. … Effectively, as bizarre because it feels, it’s higher to have Exxon speaking about making local weather progress than attempting to cease it.
The LG Chem manufacturing facility talked about above for battery cathodes began getting constructed in December 2023. The objective at full manufacturing capability is to supply 60,000 tons of cathodes a yr.
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