r/technology • u/ourlifeintoronto • Sep 10 '23

Transportation Lithium discovery in US volcano could be biggest deposit ever found

https://www.chemistryworld.com/news/lithium-discovery-in-us-volcano-could-be-biggest-deposit-ever-found/4018032.article
13.9k Upvotes

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152

u/[deleted] Sep 11 '23

[deleted]

170

u/[deleted] Sep 11 '23

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17

u/Pjpjpjpjpj Sep 11 '23

A lie will make its way around the world before the truth completes its first step.

72

u/getBusyChild Sep 11 '23

I'd imagine the US/DOJ would try to prevent such a thing if such a scenario arises. Then again no idea if the US Govt can imminent domain an actual mine or w/e.

108

u/shotputlover Sep 11 '23

The answer is yes they can eminent domain it.

-2

u/Granolapitcher Sep 11 '23

They won’t though. Especially if it’s in the next republican Congress/President’s interest. Easier to pay them off

4

u/domeruns Sep 11 '23

Remember the foxconn deal in Wisconsin? They'll bend over for the CCP as soon as they can.

-1

u/[deleted] Sep 11 '23 edited Sep 11 '23

[deleted]

4

u/shotputlover Sep 11 '23

Look at you not knowing the difference between nationalizing and eminent domain.

2

u/Indemnity4 Sep 11 '23

Yes, US can seize on it's own soil, anything it likes (although there are repercussions and monies may have to be paid to the owners).

As an example, under the Trading with the Enemy Act of 1917 the USA government seized and auctioned off the assets of German chemical company Bayer that produced Aspirin.

The US government seized a lot of coal mines during WW2.

1

u/EnigmaticQuote Sep 11 '23

No the guy you responded to is blatantly wrong.

55

u/CptWholesome Sep 11 '23

Say three prayers, spin around twice, and point broadly to national security claims and that problem magically disappears. If the Gov't wants something like that, it finds a way.

4

u/[deleted] Sep 11 '23

[deleted]

4

u/CptWholesome Sep 11 '23

Right. That was my point. I was pointing out hypocrisy and corruption.

24

u/EnvironmentalFile873 Sep 11 '23

Good thing we let other countries buy up our own land.

3

u/Financial_Carpet9522 Sep 11 '23

Nobody tell this guy about canada

34

u/fiya79 Sep 11 '23

They are Canadian based, and publicly traded. I don’t see a Chinese connection in any filings. The only thing I find is a 20% holding to finance a South American project.

-11

u/Raisin_Alive Sep 11 '23

You can't be serious?

39

u/therapist122 Sep 11 '23

At the end of the day, what's china gonna do? Invade?

11

u/[deleted] Sep 11 '23

Our trustworthiness and reputation as a nation where the property you buy is what you own, goes into the gutter. Just like China’s

50

u/NivMidget Sep 11 '23

We don't need other countries owning land in the US.

8

u/NiceMarmot12 Sep 11 '23

China does not own the land. The BLM (US Government) owns most if not all of the land.

How do I know? I looked up the property area and it’s almost all BLM land.

11

u/MegaGorilla69 Sep 11 '23

All land matters

1

u/[deleted] Sep 11 '23

[deleted]

2

u/NivMidget Sep 11 '23

It should for countries that we deem an enemy to the states. That should be the standard for every country.

Assets are fine, but the actual land itself shouldn't be tolerated. And i would even propose a mandatory buyback, even if they aren't allies.

15

u/95688it Sep 11 '23

seeing as chinese aren't allowed to even own property in china, they should not be allowed to buy it up here.

3

u/NiceMarmot12 Sep 11 '23

China does not own the land. The BLM (US Government) owns most if not all of the land.

How do I know? I looked up the property area and it’s almost all BLM land.

1

u/95688it Sep 11 '23

i wasn't speaking only about this issue, chinese are known for buying up huge amounts of land and houses.

3

u/Legitimate_Tea_2451 Sep 11 '23

Lmao, someone's never heard of the Native Americans, or the Nisei

1

u/Wonderful_Mine753 Sep 11 '23

nobody cares about that anymore

1

u/Ctowncreek Sep 11 '23

Good.

Dont let other countries buy US land.

1

u/therapist122 Sep 11 '23

It wouldn’t, super easy to spin this as a one-off due to national security interests or something. There is 0% chance the US lets china just export all the lithium when it’s needed domestically. They don’t even have to take ownership, just increase tariffs on lithium exports to one billion percent

2

u/dronesBKLYN Sep 11 '23

You're thinking about the US. China will sponsor local infrastructure and industry until they have control over the resources and logistics connecting it.

2

u/krumble Sep 11 '23

Fund the political careers of a group of out-of-power extremists who want to advance a deeply unpopular agenda but are willing to give away national assets to get it put in place.

1

u/djfreshswag Sep 11 '23

Sign off-take contracts where the lithium is exported to China and refined there, then imported back to the US. Making us still dependent on them for the final useable product…

I think Thacker Pass is supposed to include a refinery to make it into lithium carbonate, but cathode production facilities may wind up mostly being overseas

4

u/nextkevamob2 Sep 11 '23

Profit and control is fine, the materials are in the US, and will benefit US manufacturing first. And as it’s on US soil it adds a bit of future economic stability, especially for the fear mongers. Hopefully, because it’s so concentrated, the environmental damage will be lowered as well.

1

u/Gurdel Sep 11 '23

STOP LETTING CHINA OWN OUR SHIT!

-4

u/ohmanohmy96 Sep 11 '23

The company is doing a stock split later this year, so by 2024 the owner of this potential mine will not be Chinese owned

12

u/[deleted] Sep 11 '23

doing a stock split later this year, so by 2024 the owner of this potential mine will not be Chinese owned

Are you sure you understand how a stock split works? It doesn't change proportion of ownership.

2

u/buckX Sep 11 '23

It blows my mind how excited I've seen people get over the market equivalent of breaking a 20.

0

u/jhuang0 Sep 11 '23

The owner doesn't really matter from a national security perspective. If China blocks America's ability to get lithium elsewhere, this mine can be nationalized at that point. It's really just extra security to be able to source needed resources on your own land.

0

u/Indemnity4 Sep 11 '23

The LAC company split into two in March 2023 due to the problems with Chinese ownership. The Canadian government ordered the Chinese investors to sell.

Lithium International, the majority lithium producing business in Argentina remains majority Chinese owned.

Lithium Americas, this, the minor Nevada, USA development was divested by the Chinese owners. They would have never received DOE investment money while still being majority Chinese owned.

0

u/[deleted] Sep 11 '23

[deleted]

2

u/cordell507 Sep 11 '23
  1. LAC is Candian, not American
  2. LAC's Chinese investors were forced to divest earlier this year

-2

u/[deleted] Sep 11 '23

lol see how long that lasts if they start mining it and only selling to Chinese/Chinese allied countries.

1

u/FaZaCon Sep 11 '23

If thats even true, doubt it, then lithium mining is about to be the most taxed commodity the USA has ever levied.