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Saturday, Nov 9, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Alternative Energy

United States makes substantial lithium discovery in Pennsylvania

The new discovery could provide a novel method for obtaining this vital element without the need for additional mining

United States makes substantial lithium discovery in Pennsylvania
Image via Juan Roballo via Shutterstock.

The United States may have uncovered a solution to breaking China’s stranglehold over the world lithium market.

Scientists discovered a vast reservoir of the metal hiding in wastewater left over from a gas fracking site in Pennsylvania.

The wastewater was originally created by the hydraulic fracturing of rocks inside the Marcellus Shale gas wells, and contains enough lithium to fulfill approximately 40 per cent of U.S. demand, according to a new study published in the journal, Scientific Reports in April.

The new discovery could provide a novel method for obtaining this vital element without the need for additional mining. Researchers found Pennsylvania’s lithium source due to fracking in the region, a process that injects water into the ground to extract natural gas.

This method has significant environmental drawbacks because the fracking byproduct is usually considered waste. However, thanks to the new discovery, sources said that workers can potentially extract the element and make use of the fracking byproduct.

Lab results showed that workers could extract the element from wastewater with up to 90 per cent efficiency.

Currently, Australia, Chile, and China produce 90 per cent of the world’s USD$8 billion lithium supplies.

A few companies involved in the supply chain include North Carolina based Albemarle Corporation (NYSE: ALB), Pilbara Minerals Limited (AUX: PLS) in Australia.

Argentina also plays a smaller but vital component to this with companies like Lithium South Development Corporation (TSXV: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) and Arcadium Lithium plc (NYSE: ALTM).

Read more: Lithium South explores alternative production methods at Hombre Muerto North

Read more: Lithium South completes pumping test in Alba Sabrina Tenement

U.S. presently only has one lithium mine

China exerts significant control over the market, primarily due to its dominance in processing and battery production. As the world’s largest electric vehicle (EV) market, China consumes a substantial portion of the world’s lithium supply for battery manufacturing. Chinese companies have also invested heavily in mining projects around the world, securing access to lithium resources.

The rare element is essential for manufacturing electric vehicle batteries, smartphones, laptops, smartwatches, and electronic cigarettes.

The U.S. currently operates only one lithium mine, located in Nevada, requiring the import of large quantities to meet demand. Recognizing the metal’s importance for the green energy transition, U.S. Department of Energy officials have set a target to produce all lithium domestically by 2030. As a result, more mines are scheduled to open in states like Nevada, California, and North Carolina.

However, lithium mining remains controversial due to its potential to release carbon dioxide into the atmosphere and its ability to destroy natural environments by leaking toxic chemicals into the soil.

The researchers suggested that future research should focus on the environmental impact of lithium extraction from the water and the building of a pilot facility that could do so efficiently.

 

Lithium South Development Corporation is a sponsor of Mugglehead news coverage

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