ExxonMobil plans to begin producing lithium in 2027 in a major strategic pivot, as the biggest western oil producer bets it can use its expertise in drilling and processing to become a leading player in the battery metal.
The company said on Monday it had begun work to extract lithium from underground brines in the southern US state of Arkansas, where it has acquired the rights to 120,000 acres of land in the Smackover formation.
“This landmark project applies decades of ExxonMobil expertise to unlock vast supplies of North American lithium,” said Dan Amman, head of Exxon’s low carbon solutions business.
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