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Elon Musk tweeted Tesla might get into the lithium mining and refining enterprise immediately and at scale as a result of the price of the metallic, a key element in manufacturing batteries, has gotten so excessive.
“Value of lithium has gone to insane ranges,” Musk tweeted. “There isn’t a scarcity of the factor itself, as lithium is nearly in all places on Earth, however tempo of extraction/refinement is sluggish.”
The Tesla and SpaceX tech boss was responding to a tweet displaying the common value of lithium per tonne within the final twenty years, which confirmed an enormous improve in costs since 2021. In line with Benchmark Mineral Intelligence, the price of the metallic has gone up greater than 480% within the final yr.
There are certainly deposits of lithium everywhere in the United States, in response to the the U.S. Geological Survey, a division of the U.S. Division of Inside.
Lithium is efficacious in electrical automobile batteries as a result of it’s each the lightest metallic and the least dense strong factor. That signifies that batteries made with lithium have a excessive power-to-weight ratio, which is essential when coping with transportation.
Friday’s tweet is just not the primary time Musk has raised the thought of Tesla mining its personal lithium.
In 2020, Tesla secured its personal rights to mine lithium in Nevada after a deal to purchase a lithium mining firm fell by way of, in response to Fortune, which was siting “individuals acquainted with the matter.”
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