2023-09-14 00:00:13
Title: Nevada-Oregon Border Unveils Massive Lithium Deposit, Potentially Reshaping Global Supply Chain
Subtitle: Astonishing Find May Alter Global Lithium Dynamics and Geopolitical Landscape
Date: [Insert Date]
The discovery of an enormous lithium deposit within an ancient supervolcano on the Nevada-Oregon border has experts buzzing about how it might revolutionize the global supply of this critical metal and potentially influence international relations.
Published on August 31 in the Journal for Science Advances, a groundbreaking study conducted by researchers from Lithium Americas, GNS Science, and Oregon State University has revealed that the McDermitt Caldera, spanning 50 kilometers in length and 30 kilometers in width, houses an astonishing 20 to 40 million metric tons of lithium. This vast reserve dwarfs the existing deposits in Australia and Chile, positioning the supervolcano’s wealth as a game-changer in the lithium market.
Geologist Enoch Burst from KU Leuven and the Royal Museum for Central Africa in Trevorn, Belgium, hailed the deposit as potentially transformative for lithium dynamics worldwide, with far-reaching implications for price, supply security, and geopolitics.
Bruno Venditti of the US Geological Survey presented data highlighting the concerning gap between the United States and other nations in terms of lithium production. Despite holding the third-largest reserves globally, the US possesses only a single lithium mine, Silver Peak, located in Nevada. This inadequacy is especially worrisome as global demand for lithium surges due to the growing transition to clean energy mandated by governments.
In July, we highlighted ExxonMobil’s early foray into capitalizing on lithium reserves, signifying its strategic importance within the energy sector. Thomas Benson, a geologist at Lithium Americas and one of the study’s authors, predicts that mining operations within the McDermitt Caldera will commence by early 2026.
As the demand for lithium continues to soar, prices have skyrocketed from $5,850 per ton in the summer of 2020 to a peak of $80,000 in early 2022, before stabilizing at around $30,000 per ton. The Daily Mail noted that the supervolcano’s deposit, estimated at $37,000 per metric ton for battery-grade lithium carbonate, potentially represents $1.48 trillion worth of this precious metal. This astounding revelation places Nevada at the heart of a potential “green energy white gold rush,” bolstered by the Biden administration’s push for electric vehicle adoption in response to the declared “climate emergency.”
With the McDermitt Caldera revealing this unparalleled lithium reserve, its impact on the global lithium supply chain, economic landscape, and geopolitical dynamics is yet to be fully comprehended. Experts are keeping a close eye on developments within this extraordinary discovery, as it has the potential to reshape the future of lithium production and distribution worldwide.
#Hebrew #News #huge #treasure #discovered #Nevada #lithium #worth #trillion #dollars #supervolcano #border #Silver #State #Oregon