Wednesday, May 25, 2022

Elon Musk to Buy His Own Nevada Lithium Mines for Tesla?

The development of the lithium industry looks very similar to the beginning of the oil boom - See How Investors Can Benefit                              

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Elon Musk Wants His Own Lithium Supply – And Who Can Blame Him?

According to his frantic tweet on 4/8/22, Elon Musk is looking to get into the lithium mining business – for several good reasons.

First, lithium prices soared 400% in 2021, making Tesla EV batteries even more expensive to create. Second, China currently controls 80% of the global production of battery raw materials such as lithium, making the supply chain tenuous at best. And third, in late March 2022, the Defense Production Act was invoked to increase domestic production of critical minerals and strategic metals such as lithium that are critical to the US and free world independence from China and Russia.

In line with a goal to lessen America's reliance on Chinese lithium – and to lessen his own costs while ensuring his supply – Musk may be looking at buying or teaming up with other lithium mining operations close to his Nevada gigafactory.

See Why Musk's Announcement Could Be Good News for Nevada Lithium Investors


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