Saudi Arabia and the United Arab Emirates' national oil companies plan to extract lithium from brine in their oilfields, while others look to brine sources
LONDON/DUBAI — Saudi Arabia and the United Arab Emirates' national oil companies plan to extract lithium from brine in their oilfields, in line with efforts to diversify their economies and profit from the shift toOther oil companies, including Exxon Mobil and Occidental Petroleum, plan to take advantage of emerging technologies to filter lithium from brine, as the world seeks to move away from fossil fuels.
An advantage of filtering the ultralight battery metal from salt water is that it avoids the need for costly and environmentally challenging open pit mines or large evaporation ponds, as employed in the world's leading producersLithium prices have fallen by about 80% since touching a peak in November 2022 as a slowdown in EV sales exacerbated a supply glut.
An issue with extracting lithium from brine is that concentration levels can be very low, making already uncertain economics less favourable.
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