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Tuesday, Oct 15, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Alternative Energy

Nevada lithium mine edges closer to approval despite environmental concerns

The mine will produce lithium chemicals for companies like Panasonic, Toyota, and Ford

Nevada lithium mine edges closer to approval despite environmental concerns
Tiehm's buckwheat. Image from Patrick Donnelly via Center for Biological Diversity

Lithium ion batteries like those used in electric cars may not be as environmentally friendly as once thought. The development and proliferation of such may have hidden consequences that may not be immediately apparent.

The Bureau of Land Management announced on Thursday that it had completed the final environmental impact statement for a Nevada-based hard rock lithium mine and chemical processing plant.

The mine will produce lithium chemicals for companies like Panasonic, Toyota (NYSE: TM), and Ford (NYSE: F). Federal officials stated the plan would protect nearby endangered flowers, a claim that has angered environmental advocates. BLM highlighted the mine’s projected output, which could provide enough lithium to power nearly 370,000 electric vehicles each year.

The Biden administration’s push for green energy has spotlighted this project, which could dramatically increase domestic lithium production and potentially power hundreds of thousands of electric vehicles. This initiative aligns with broader goals to reduce reliance on fossil fuels and cut greenhouse gas emissions.

The BLM released a final environmental impact statement indicating that the mine would directly affect 21 per cent of Tiehm’s buckwheat’s critical habitat, but it believes the mine can coexist with conservation efforts for the plant. This conclusion has sparked considerable debate.

Read more: Ganfeng Lithium invests over half a billion into Türkiye battery production

Read more: Lithium South extracts lithium iron phosphate at Hombre Muerto North

Scientists and environmentalists angry about plant’s fate

The Australian company behind the mine, Ioneer Ltd. (ASX: INR), has invested in conservation measures, including a greenhouse dedicated to growing Tiehm’s buckwheat. The intent here is to mitigate the impact through transplantation and habitat reclamation. Despite these efforts, scientists and environmentalists argue that these measures might not prevent the plant’s extinction, noting that transplantation success for species conservation is not guaranteed.

“It’s an outrage that the BLM and Fish and Wildlife Service capitulated to the demands of a mining company whose plans clearly run afoul of the Endangered Species Act,” said Patrick Donnelly, Great Basin director at the Center for Biological Diversity.

“These agencies are entrusted with preserving our biodiversity for future generations, and instead they’re turning this flower’s only known habitat into an industrial site, condemning it to extinction.”

More than 100 scientists have expressed their concerns through letters and petitions, emphasizing that the mine’s plan could drive Tiehm’s buckwheat to extinction. Groups like the Center for Biological Diversity have criticized the rushed environmental review. Legal challenges are expected due to the potential violation of the Endangered Species Act.

The U.S. Geological Survey has identified lithium as one of 50 critical minerals. This means it’s important to the country’s economy and national security, as well as the vulnerability of its supply chains.

Industries extensively use lithium batteries in the growing market for portable electronic devices, vehicles, and grid storage applications. The BLM recently approved another lithium mine at Thacker Pass, also located in Nevada.
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