The gold rush is back, but this time the focus is on “white gold” lithium – a major player in the world’s shift toward green energy.
The metal has been referred to as “the new gasoline” because of its use in electric vehicle batteries, but you can also find it in smartphones, laptops, Airpods, electric toothbrushes, smartwatches, e-cigarettes, pacemakers and other devices.
The metal is in the midst of a boom. Prices have surged roughly 500% year over year, triggering a global race to find and extract more.
While there’s an abundance within the U.S. – billions of dollars’ worth of the metal is believed to be contained in just one mine in Nevada – the country relies on imports. There are plans to open more mines in states like Nevada, California and North Carolina to help the U.S. reach supply goals.
