Reported 1 day ago
Exxon Mobil has entered into a non-binding lithium supply deal with LG Chem, marking its second agreement for lithium extraction from its Arkansas project. The oil giant plans to produce up to 100,000 metric tons of lithium over several years, leveraging direct lithium extraction techniques. The deal is significant for building a North American battery supply chain, as LG Chem intends to use the lithium for its Tennessee facility. However, the agreement still needs Arkansas state officials to finalize a lithium royalty rate, which has been a contentious issue.
Source: YAHOO