They say two’s a party and three’s a crowd, but in the case of this American region, three makes for a very unique cultural blend. From dense forests to several bayous, and even diamond hunting, this region will keep you busy. Now, it also boasts the discovery of a massive white gold mine, and it yields a product that already has China fearing its end.
The discovery of a massive white gold mine in this American region
The “Ark-La-Tex” region is renowned for its unique cultural blend of the southern US states, namely Arkansas, Louisiana, and Texas. Beyond its lush forests lies a discovery, a massive white gold mine, which will be the latest venture of Energy Exploration Technologies, or simply EnergyX. EnergyX is a clean technology company based in San Juan, Puerto Rico, and advocates for the transition to sustainable energy.
The company’s primary source is a soft, silvery-white alkali metal, and it most definitely struck white gold with its project, Lonestar. With its eyes set on commercialization, the company partnered with Kiewet, which is an engineering, procurement, and construction company. Kiewet will be in charge of Project Lonestar’s early front-end engineering designs and the growth potential of EnergyX’s direct extraction.
This is Project Lonestar’s white gold
EnergyX does not play around when it comes to mining. Project Lonestar is officially EnergyX’s second-largest project. However, the company obtained a Chile-based resource for this highly sought-after white metal, as well as 90,000 acres (36,400 hectares) of mining concessions in 2023. Chile is the second-largest country in the world that produces this white gold.
This highly sought-after white metal is none other than the chemical element, lithium. According to MiningWeekly, this lithium mine had an estimated 2.6 to 5.5 million tonnes of lithium, which would result in 40,000 tonnes of lithium annually. EnergyX confirmed that the Chile-based mining concessions had multiple surface samples showing lithium concentrations higher than 400 mg/L.
Last year, the US Department of Energy granted EnergyX $5 million with a $5 million company match for a demonstration plant’s construction, which would generate lithium hydroxide from geothermal salt water. The demonstration plant will be Project Lonestar’s foundation. Project Lonestar has a target lithium generation of 5,000 tonnes annually in Phase 1. According to the company, Phase 2 will see an increase to 25,000 tonnes annually. What will this mean for China’s battery-electric vehicle industry?
Project Lonestar has China fearing its end
“This has been a long time in the making, and we still have a long way to go, but it is crucial that US-based companies really focus on developing domestic resources to reduce our reliance on external, offshore suppliers for critical elements like lithium.” – EnergyX CEO Teague Egan
Lithium has become an essential element in producing batteries, as it is lightweight, has high energy density, and recharges efficiently. It also plays a significant role in the renewable energy sector, as the qualities of lithium-ion batteries make them highly suitable for electric vehicles (EVs), portable electronics, and energy storage systems for other renewable energy sources.
According to Elements, China is the forerunner of the global battery capacity, and predictions indicate that China will account for almost 70% of the capacity by 2030. However, it’s not over before the fat lady sings. Elements predict that the US is expected to be second in battery capacity after China by 2030, but thanks to Project Lonestar’s high-yielding potential, the US will most certainly give China a run for its money.