The company had the option to be acquired by Tesla for $325 million in stock, but the deal never went through.
California’s Simbol Materials is taking a novel approach to mining lithium: the company extracts lithium brine from the wastewater of geothermal energy plants. The company has mined a few hundred tons of lithium, but has not yet developed commercial scale facilities, according to Hydrogen Fuel News.
If proven successful, POSCO’s new lithium extraction technology may further lower the cost of production at brine deposits, widening their economic advantage over hard-rock deposits.
Lithium supply security is front and center in the minds of the world’s leading technology firms. New research at Missouri S&T aims to study the impact of technical, geopolitical and economic factors on lithium supply.
NY Times reported that Simbol Materials announced that it is beginning commercial operations at a factory in Southern California to capture lithium from existing geothermal energy plants.