We’re learning more about the recently-held 2nd Annual Lithium Innovation Summit. Speaking on the independent statewide program Talk Business and Politics (TB&P), freelance journalist Steve Brawner offered some inside perspectives on the event, which featured some of the biggest players in the energy industry, from ExxonMobil to Chevron, to the leadership team at Standard Lithium.
That company’s flagship projects are located in Southwest Arkansas and East Texas in what’s known as the Smackover Lithium Formation. The host of TB&P, Roby Brock, pointed to one speaker’s remarks that the public should not expect to see a so-called lithium white gold rush. Instead, it’s more likely to be a slow grind, as the lithium market ramps up.
Brawner agreed with Brock’s summation, which can go a long way in tempering overhyped expectations. “At the same, there's a lot of reason to be encouraged. Um, standard lithium is about to they expect to; to start building next year a $1.4 billion plant and they've got about $225 million of that. It was paid for by federal money. So uh you know there's a lot of reasons for optimism.”
Standard Lithium has targeted 2028 for its production start date. And speaking of investments, Brawner says ExxonMobil now has 300,000 acres in South Arkansas. And in June, Chevron purchased 125,000 acres in South Arkansas and East Texas.
