Considered the world’s largest lithium producer, Albemarle Corp. just cemented its standing as it won approval this week from the Arkansas Oil and Gas Commission to begin testing its lithium extraction processes in southern Arkansas and not pay commercial production royalties.
Albemarle has a plant located in Magnolia, part of the Smackover play in southern Arkansas where the unlimited quantities of brine made it a target of a growing number of companies wanting to use lithium for the manufacture of EV batteries.
The company is testing its method of direct lithium extraction, also known as DLE, hoping to double lithium production over the traditional use of evaporation ponds. Albemarle is hoping to be the first company to employ DLE technology to reach commercial production. The firm located in Magnolia and three years ago began development of its plans for lithium production.
“It is a new technology and we’re going to make sure that we do it right.”
The company had existing bromine operations in Arkansas when it moved into the lithium exploration effort.
