ExxonMobil has signed a lithium offtake agreement with LG Chem for 100,000 tons of lithium carbonate, aimed at bolstering the US critical mineral supply chain. The lithium will be sourced from ExxonMobil's upcoming project and supplied to LG Chem's Tennessee cathode plant, which is set to be the largest in the US. This initiative is expected to create jobs, enhance energy security, and utilize Direct Lithium Extraction technology, promising lower environmental impacts compared to traditional mining methods.
