BATTERIESThe Electric Vehicle Boom Could Bring Lithium Mines Back to North Carolina
Today, less than 1 percent of global lithium is mined in the United States, all from one mine in Nevada; the vast majority comes from Chile, Australia, and China.But as nations seek to cut emissions and transition to clean energy sources, demand for the metal is increasing, and the U.S. is looking to ramp up production within its borders.Mining companies are once again eyeing North Carolina as they seek to capitalize on the booming market for electric vehicles and renewable energy storage. Not all locals are happy about it.
In the Piedmont region of North Carolina, about 50 miles east of the Blue Ridge mountains, a thin, 25 mile-long belt of ore stretches north from the southern state line. The strip, called the Carolina Tin-Spodumene Belt, contains the country’s largest hard rock deposit of lithium.
Back in the 1950s, lithium gained importance as a component of nuclear bombs and pharmaceuticals, and the area around Kings Mountain, near Charlotte, saw a major boom in mining. For about 30 years, the region supplied almost all the lithium in the world. Then in the 1980s, production moved to lower-cost operations overseas. Today, less than 1 percent of global lithium is mined in the United States, all from one mine in Nevada; the vast majority comes from Chile, Australia, and China.
But as nations seek to cut emissions and transition to clean energy sources, demand for the metal is increasing, and the U.S. is looking to ramp up production within its borders. Last summer, President Joe Biden signed an executive order calling for electric vehicles, which depend on lithium-based batteries, to make up 50 percent of all new vehicle sales by 2030. The Inflation Reduction Act, recently signed into law, aims to incentivize a domestic battery supply chain, providing tax breaks for mines and credits for electric cars and grid storage applications when a percentage of the battery is produced or recycled in the U.S.
