Innovative AI-lithium Play - Rapid Extraction Key to Unlocking US Lithium Resources
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NEW YORK, Feb. 5, 2019 /PRNewswire/ -- Conflicting reports regarding Warren Buffett's Berkshire Hathaway's recent alleged interest in new US-based lithium extraction technologies has shone a spotlight on a rising need for innovation. Beyond Buffett's group, there has already been a push from the lithium sector to innovate, from companies including Standard Lithium Ltd. (OTC:STLHF) (TSX-V:SLL), Albemarle Corporation (NYSE:ALB), Livent Corporation (NYSE:LTHM), Sociedad Química y Minera de Chile S.A. (NYSE:SQM), and Nemaska Lithium Inc. (TSX:NMX) (OTC:NMKEF).
Despite lingering doubts about the feasibility of the reported Berkshire Hathaway project to produce lithium from California geothermal wells, another project that's, further along, is priming for lithium production from the US brines. A planned joint venture involving a multi-billion-dollar global specialty chemical company and lithium experts Standard Lithium (TSX.V:SLL) (OTCQX:STLHF) based in Southern Arkansas may have the best chance to succeed.
After the announcement of their latest 802,000 tonnes lithium resource, Standard Lithium (TSX.V:SLL) (OTCQX:STLHF) now has a total combined Southern Arkansas lithium brine resource of 3,888,000 tonnes lithium carbonate equivalent (LCE). To potentially recover all that lithium, the company has developed a proprietary lithium recovery process that eliminates the use of evaporation ponds, cuts processing time down to mere hours, and increases recovery efficiency to a level key to unlocking a huge overlooked lithium resource opportunity in the USA.
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"This combined project in Southern Arkansas positions us as the largest lithium brine resource in the US; a significantly expanding market that currently relies on imports of foreign lithium," said Standard Lithium CEO, Robert Mintak.
As international interests such as Germany and China jostle for position in other places like South America, securing North American lithium is highly sought after domestically. The economic impact could be massive, as Chilean exports alone rose to $949 million in 2018.
Utilizing access to extensive infrastructure, low-cost chemical reagents, and a highly skilled workforce, Standard Lithium (TSX.V:SLL) (OTCQX:STLHF) is an example of how one innovative developer plans to fast-track production of a new domestic supply of lithium in the USA.