Volt Lithium

History

2023: Technology developed to extract lithium from old oil fields

In mid-June 2023, the Canadian company Volt Lithium announced the development of a new technology for the extraction of lithium from old oil fields. The proposed method is expected to provide higher efficiency at a lower cost than conventional methods.

Lithium is one of the main components of modern batteries. At the same time, the demand for batteries of this type is constantly growing against the background of electrification of transport and modernization of energy infrastructure. Experts are already predicting lithium deficiency. The fact is that it takes about 13 years to launch a new mining enterprise. The International Energy Agency believes existing mines and salt basins, including those due to start operations, will only be able to meet about half of projected demand.

Technology developed for lithium production from old oil fields

The traditional way of mining lithium comes down to pumping underground brine into huge pools on the surface of the earth. Over a year or more, the Sun gradually evaporates water until the lithium concentration reaches a certain level and it reacts with chemical components. The compound is then converted to lithium carbonate or hydroxide for sale. This method makes it possible to extract 40-60% lithium from brine at a price of $3,300 to $4,900 per ton in equivalent lithium carbonate.

Volt Lithium has proposed direct lithium extraction (DLE) technology. The essence of the method is to add a special highly selective absorbent to the brine, which traps lithium and quickly separates it from water, weeding out impurities. As a result, the process takes only a few hours, not a year or longer. Compared to evaporation technology, the new method allows you to double the yield of a useful product. In addition, the cost of lithium extraction is reduced. Old oil fields can be converted into lithium production.^[1]

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