The Chinese were way ahead of the rest of the world when it came to recognizing the value of lithium. While most nations slept, China was busy identifying lithium deposits around the world and either buying them or negotiating deals with those who may not have fully appreciated lithium’s value.
It incentivized others to seek alternatives. New companies sprang up to extract lithium from salt brine, especially in the Salton Sea area of California. But these are years away from being able to supply America’s and the world’s needs.
On Aug. 30, 2023, three researchers published a paper in the journal Science Advances in which they reported the discovery of what may be the largest lithium deposit known to exist anywhere in the world–inside an extinct volcano in Nevada near the Oregon border.
Source: CleanTechnica: Read The Article
PSR Analysis: It is believed that 20 to 40 million (some say 120 million) tons of lithium metal lie within a volcanic crater formed around 16 million years ago. Either way, that’s more than the deposits found beneath a Bolivian salt flat, which up until now has been considered the largest in the world. With mining potentially to start in 2026 this is a real game changer and could significantly reduce the price of lithium, and hence EVs. PSR
Guy Youngs is Forecast & Adoption Lead at Power Systems Research
