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Recently, global oil giant ExxonMobil announced its lithium mining project in Arkansas will commence production in 2026. The annual capacity of the project is expected to reach 10,000 tons, with the initial output equivalent to the quantity needed for manufacturing batteries for 100,000 electric vehicles.

ExxonMobil also revealed that the company is exploring methods to extract lithium from underground brine and has engaged in negotiations with International Battery Metals and Energy Minerals for licensing lithium extraction technology.

News about ExxonMobil’s lithium mining expansion has been circulating for a while. In May 2023, reports indicated that ExxonMobil purchased mining rights to 120,000 acres of land in southern Arkansas’s Smackover region from exploration technology company Galvanic Energy for over $100 million.

According to information released by Galvanic, third-party estimates suggest that the lithium resources in this region amount to 4 million tons of Lithium Carbonate Equivalent (LCE).

Subsequent reports suggested that ExxonMobil is in early-stage negotiations with potential customers such as Tesla, Ford, and Volkswagen for lithium product supply. Additionally, ExxonMobil has collaborated with battery manufacturers Samsung SDI and SK On.

In fact, ExxonMobil’s move into lithium mining reflects the energy giant’s self-transformation in the face of industry upheavals.

With the ongoing acceleration of global energy transition, ExxonMobil previously predicted that by 2025, new energy vehicles would account for over 50% of total new vehicle sales.

In recent years, an increasing number of energy giants are strategically positioning themselves in the lithium-ion battery industry.

Nearly in sync with ExxonMobil, Hungary’s integrated oil and gas company, MOL Group, recently announced plans to start experimental lithium extraction next year.

Two companies under Orano Group, one of the world’s largest nuclear industry groups, have also separately partnered with XTC New Energy Materials to invest in the construction of a 40,000-ton per year ternary cathode material production line.

Source: WeChat Official Account—电池工业网

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