EnergyX to build new lithium project in North America [Yahoo! Finance]
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Source: Yahoo! Finance
The move is expected to bolster EnergyX's role in the global energy transition and contribute to the security of the US battery supply chain. Project Lonestar Lithium will be developed in the so-called Ark-La-Tex region, where the southern US states of Arkansas, Louisiana and Texas intersect. The project is expected to produce 5,000tpa of lithium in its first phase, with a subsequent increase to 25,000tpa in Phase 2. This exceeds the output of the current largest active lithium plant in the US, which produces 5,000tpa. Last year, institutional partners including General Motors and POSCO invested in EnergyX as part of the latter's Series B fundraise. These partners secured first rights to portions of the lithium produced by EnergyX. The announcement of Project Lonestar Lithium follows EnergyX's acquisition of 90,000 acres of lithium mining concessions in Chile and the launch of Project Black Giant. Additionally, the US Department of Energy has awarded EnergyX a $5m grant
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