Seems there is rapidly growing interest in South Arkansas, home to the Smackover Formation and a rich yield of lithium from the brine.
Australian-based Daytona Lithium, which controls the brine leases to more than 5,300 acres next to ExxonMobil’s newly-acquired brine leases sold 35% interest to another Australian company, publicly-owned Pantera Minerals.
Remember, ExxonMobil paid nearly $100 million to lease nearly 120,000 of potential brine-producing land from Oklahoma City’s Galvanic Energy. But the latest acquisition involving the Australian firms shows South Arkansas is definitely a hot spot for the development of lithium for electric vehicle batteries.
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