ExxonMobil has signed an MoU to supply up to 100,000 tonnes of lithium carbonate to an LG Chem plant in the USA, the US energy giant said on Wednesday.
The non-binding agreement would see ExxonMobil supply lithium carbonate to the South Korean-owned cathode plant in Clarksville, Tennessee, which aims to manufacture cathodes for electric vehicle batteries.
The facility saw groundbreaking in December 2023 and is expected to have an annual production capacity of 60,000 tonnes once operational in 2026. It is poised to become the largest such plant in the country.
The deal aims to strengthen the USA’s critical minerals supply chain and contribute to domestic energy security, manufacturing, jobs and emissions reduction, the US company said.
The company is in the development phase of a mining operation in Arkansas, where it acquired around 486 square kilometres on the prolific Smackover formation earlier this year.
In the operation, lithium-rich saltwater will be mined via a conventional drilling operation, with lithium then extracted using direct lithium extraction (DLE) technology and converted to battery-grade material onsite. Produced saltwater will then be reinjected into the subsurface reservoirs.
ExxonMobil plans to become a leading lithium supplier by 2030.
Source: By theenergyyear.com