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Ford Claims Argentine Lithium Supplies Dealing With Lake Resources – By ASC


The deal is Ford’s main bet on direct lithium extraction (DLE), a relatively new type of technology that filters metals from brine and uses far less acreage than open pit mines and evaporation ponds.

Ford Motor Co. said on Monday it had signed a preliminary agreement to buy lithium from Lake Resources NL’s facility in Argentina, marking the first time the automaker has publicly announced where it will acquire metal electric vehicle batteries.

The deal is Ford’s main bet on direct lithium extraction (DLE), a relatively new type of technology that filters metals from brine and uses far less acreage than open pit mines and evaporation ponds.

General Motors Co., BMW, Stellantis NV and other Ford competitors have signed their own supply deals with companies that plan to use DLE technology.

Ford aims to buy 25,000 tons of white metal annually from Lake’s Kachi project in northern Argentina, which is being developed with privately owned extraction startup Lilac Solutions Inc.

Lilac technology, like all DLE technologies, has yet to work commercially, although it has the support of Breakthrough Energy Ventures Bill Gates and other high -profile investors.

The agreement between Lake and Ford is non -binding and needs to be finalized to include a specific delivery schedule.

Ford chief executive Jim Farley said in February that his company was working on a deal to secure a supply of key raw materials for batteries such as lithium, nickel, rare earths and copper.

“This is one of several deals we’re exploring to help Ford get the raw materials to support our aggressive EV acceleration plan,” said Ford spokeswoman Jennifer Flake.

Sydney -based Lake Resources is listed on the Australian Stock Exchange, which requires supply offerings to be made public.

The Kachi project, in northern Argentina near the Chilean border, is expected to cost about $ 540 million and open by 2024.

Lilac technology uses 10 tons of water for every ton of lithium produced. Lilac said it could use a desalination plant to filter brackish water to avoid the use of potable water.

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(This story has not been edited by NDTV staff and is automatically generated from a syndicated feed.)

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