Biden Administration offers $700 million loan for a lithium plant in Nevada that could supply lithium to Ford and Toyota.
that could produce enough lithium for 370,000 electric vehicles a year. Project partners include mining and metals processing group Sibanye Stillwater Ltd.
Demand for lithium, which also is used for grid storage and weapons, is projected to exceed current production by 2030. The U.S. relies on international markets for the processing of most raw materials, according to the department. While Asia currently dominates the lithium carbonate refining process, the Rhyolite Ridge deposit is one of two known sizable lithium-boron deposits in the world, the Energy Department said.
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