Oklahoma and Arkansas have emerged as significant locations in the United States for major lithium deposits, positioning them as potential key players in the U.S. critical mineral supply chain.
In a recent development, Exxon Mobil, a major energy corporation, ventured into the lithium mining industry. The company plans to establish a drilling site and processing plant for lithium in southwest Arkansas, having acquired the land from mineral developer Galvanic Energy. Galvanic Energy has stated that its brine reserves contain sufficient lithium to potentially produce batteries for approximately 50 million electric vehicles.
In a related move, Stardust Power has announced plans to establish a lithium refinery in Oklahoma. The decision was influenced by the region’s skilled workforce and its established intermodal freight transport system. The refinery is anticipated to generate hundreds of new jobs in the area.
Roshan Pujari, the founder and CEO of Stardust, emphasized the significance of this project in a statement. He pointed out the current lack of a large-scale refinery for battery-grade lithium in the United States, highlighting concerns over national security and supply chain risks. Pujari expressed Stardust’s commitment to collaborate with oil and gas producers to meet the increasing energy demands in America.
The project has secured $257 million in state and federal incentives, and Stardust may seek additional funding through grants from the Department of Energy and Department of Defense.
This announcement follows several other critical mineral projects in Oklahoma. In August, Westwin Elements initiated the construction of a nickel and cobalt refinery in Lawton, which is reported to be the first of its kind in the U.S. Additionally, in June 2022, Oklahoma secured a $100 million investment from USA Rare Earth for a rare earth metal and manufacturing facility in Stillwater. Thayer Smith, President of USA Rare Earth, remarked at the time of the announcement that the project aims to advance U.S. manufacturing capacity by creating the first vertically integrated domestic supply chain for rare earth elements.
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