XOM - Exxon planning to build giant lithium plant in Arkansas - WSJ

2023-07-20 07:21:50 ET

Exxon Mobil ( NYSE: XOM ) is planning to build one of the world's largest lithium processing facilities in Arkansas, with a capacity to produce 75K-100K metric tons/year of lithium, The Wall Street Journal reported Thursday.

At that scale, the plant's production would equate to ~15% of all finished lithium produced globally last year.

The giant project could be built in stages, with modular trains constructed together or in separate locations near its future lithium production sites in south Arkansas, according to the report.

Other companies including Standard Lithium ( SLI ) and Tetra Technologies ( TTI ) are planning to build capacity in the area.

The Smackover formation, a geologic trend that runs from Texas to Florida, is rich with saltwater brine which contains small amounts of lithium, and the companies are increasingly optimistic they can scale up technologies to extract it.

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