Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, has released a report uncovering the economic and environmental potential behind direct lithium extraction (DLE) in the oil and gas-rich Permian basin.
The report dives into E&P operators capitalising on the hidden potential within their wastewater, and at approximately 225 000 tpy of estimated lithium carbonate, EIR is pointing to the possibility of an untapped, US$19 billion industry in this single basin alone.
Key takeaways from the report:
- Critical minerals projects in the US benefit from policy enhancements with the Inflation Reduction Act, which brought in a 10% tax credit on mining and refining of lithium, and through federal funding of up to US$1 billion per year with the Defense Production Act.
- Canada’s Critical Minerals Strategy will provide up to CAN$3.8 billion over eight years in the form of infrastructure investments and exploration tax credits.
- E&P companies could turn wastewater into a revenue stream by leveraging DLE. EIR estimates wastewater in the Delaware Basin could produce approximately 225 000 tpy of lithium carbonate, generating US$19 billion in additional revenue.
- Permian lithium potential was calculated through the connection of academically sourced lithium concentrations with water production data from Enverus Foundations.
Graham Bain, vice president at EIR, comments:
“Direct lithium extraction is the key to unlocking lithium security in North America. DLE is more environmentally friendly than traditional lithium mines, projects don’t take as long to commission and they have the potential to generate billions of dollars in revenue to E&P companies through the extraction of lithium in wastewater.”
Read the article online at: https://www.globalminingreview.com/exploration-development/16122022/enverus-uncovers-direct-lithium-extraction-potential-in-the-permian-basin/
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