Lithium is an important metal that is used in electric cars, phones and any number of electronic devices but the US imports 80% of the lithium it uses, despite a wealth of uranium in the US. In 2013, a massive source of lithium was found in Wyoming.
The deposit could meet all US demand. America could transform from a lithium importer into a lithium producer but little is said about it.
Nothing has come of it because it was more of a thought exercise, they weren’t looking for lithium, and they’d have to research and see what kind of footprint it would leave.
Silicon Valley, Wall Street and others don’t see its potential or value.
Last year, Tesla inked a deal with Mexico for their lithium instead of making the deal with last mine in Nevada. Wyoming continues to be ignored.
After offering Tesla more than $1 billion in tax incentives to construct its factory near Reno, several Nevada lawmakers who approved the deal expressed frustration when the electric car company announced in September that it had signed deals with two companies to obtain lithium — a critical component for its batteries — from northern Mexico, rather than from mines in Nevada.
Tesla is heavily subsidized by federal tax dollars.
Soon the U.S. will not have a single rare-earth mine in operation.
Despite skyrocketing demand for energy-critical elements, domestic producers can’t compete with global forces. China especially is buying up all the lithium mines, manipulating currency, and monopolizing the market.
The United States has just one lithium mining operation, the one in Nevada. Most of the world’s lithium reserves and mining are in South America. U.S. lithium production is “small potatoes” compared to Chile, Argentina and other countries.
The environmental extremists don’t want any mining and the government regulates it into cost-prohibitive status. The mine in Wyoming has potentially 750 years worth of lithium but who is going to get it? China would buy it no doubt.
Where’s Trump when you need him?