Exxon Mobil Corporation announced on Wednesday that it signed a multiyear non-binding memorandum of understanding (MOU) to provide up to 100,000 metric tons of lithium carbonate to LG Chem Ltd.'s cathode plant in Tennessee aimed at strengthening the United States' critical mineral supply chain.
"America needs a secure domestic supply of critical minerals like lithium. ExxonMobil is proud to lead the way in establishing domestic lithium production, creating jobs, driving economic growth, and enhancing energy security here in the United States," Exxon's Low Carbon Solutions President Dan Ammann said. "Building a lithium supply chain with ExxonMobil, one of the world's largest energy companies, holds great significance," LG Chem CEO Shin Hak-cheol commented.
This announcement is part of the US oil giant's goal to become a "leading producer of lithium" as part of its Arkansas project.
