The electric vehicle revolution has ushered in a new era of energy, and one of the key minerals driving this revolution is Lithium. As the demand for this mineral increases, countries all over the globe are gearing up to become major producers of this highly sought-after resource. While Chile and Australia are at the forefront in this race, the state of Nevada is quickly gaining ground as a promising up-and-coming Lithium mineral producing area.
In 2018, Nevada was identified by the United States Geological Survey (USGS) as having high quality and potential lithium resources. This recognition was furthered when Nevada Governor Steve Sisolak signed off on SB327 in 2019, which identified areas in Nevada where Lithium exploration and development could occur. This bill opened up the mineral-rich land and has already attracted a significant amount of investment, with new projects being established across the region.
These projects include a joint venture between Bacanora Minerals and Rare Earth Minerals, which is focused on extracting and processing Lithium in Clayton Valley. This project is currently awaiting final approval, and estimates predict that the extraction of Lithium in Nevada could yield 10 million tons of the mineral. Additionally, Ioneer’s Rhyolite Ridge project plans to produce 16,500 tons of Lithium Carbonate a year and could be the largest lithium production facility in America.
Aside from these projects, recent exploration has identified several other projects that are set to bring significant amounts of Lithium to the market in years to come. Furthermore, Nevada provides incentives for Lithium exploration and development which, coupled with the existing infrastructure in the state, makes it the perfect environment for companies to tap into the state’s Lithium resources.
For these reasons, Nevada has the potential to be the next Lithium frontier. Its abundant Lithium resources, coupled with government incentives for resource extraction and existing infrastructure, make it an attractive option for major players in the industry. As the demand for Lithium continues to rise, more investments are sure to be made, making Nevada a likely contender for major Lithium mining in the years to come.