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Supply Chain: Upstream and Midstream

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Battery Report 2025, page 424: Supply Chain: Upstream and Midstream

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Smackover Lithium Formation’s Vast, High-Grade Lithium Brine Deposits Could Fuel US’ Lithium Supply Needs REPORTED ESTIMATED CONC’S Standard Lithium SWA: ~440–480 mg/L Franklin Project (TX): ~626–671 mg/L

PARTICIPATING COMPANIES

High-grade lithium brine resource (200–500 mg/L in key zones)

Why Smackover A Big Deal for Lithium

High concentration vs global brine standards

High flow rates & existing O&G infrastructure → lower development costs

US-based resource supports IRA incentives & domestic supply chain goals

Compatible with DLE technologies (adsorption, ion-exchange, solvent extraction)

Group

Status / Estimate

Standard Lithium

DFS published; ~22,500 tpa Li2CO3 planned (~2028)

Smackover Lithium (JV)

Long-term vision >100,000 tpa (multi-phase)

LANXESS

Brine processing footprint; exploring lithium co-production

ExxonMobil

Drilling appraisal wells in Arkansas

EnergyX

Expanded acreage (~47,500 acres); DLE pilot deployments

Chevron, Equinor, TETRA

Regional operators → infrastructure, mineral rights, service capabilities

Others coming

Permitting & leasing ongoing across AR/TX

Strategic Advantages

U.S.-based resource → supports IRA incentives & domestic supply chains

Existing wells, brine handling, disposal & rights-of-way

Lower capex/time-to-market vs greenfield projects

Scalable through modular facilities

Source: USGS - Lithium Smackover Formation, USGS - Lithium resource in the smackover formation brines, Exxon Mobil, Mining - EnergyX Expands US Smackover Acreage

Extracted from the PDF; charts and images may read imperfectly.

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Page 424 · 6/20