CYDVF - Tesl eyes mining lithium on its own

Tesla ([[TSLA]] +1.1%) has secured its own lithium mining rights in Nevada after dropping a plan to buy Cypress Development Corp. (CYDVF), sources tip Bloomberg.During the Battery Day event last week, Elon Musk mused quite a bit about how easy it might be to extract lithium from clay deposits in southwest Nevada and the abundant supply in the state. Lithium names like Piedmont Lithium ([[PLL]] -23.2%), Lithium Americas ([[LAC]] -3.7%), Livent ([[LTHM]] +4.3%), SQM ([[SQM]] +1.1%) and Albemarle ([[ALB]] +2.4%) will be on  on watch to see if a plan develops (not all TSLA initiatives do). The sector ripped higher yesterday after Piedmont scored a sales deal with Tesla.

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Tesl eyes mining lithium on its own