The Discovery That Will Make America Even Richer

Bright Side

A game-changing discovery has been made in the U.S.—the world’s largest lithium deposit was found inside an ancient supervolcano on the Nevada-Oregon border. The McDermitt Caldera holds an estimated 40 million metric tons of lithium, nearly half of the world’s known reserves and twice as much as Bolivia’s famous salt flats. Since lithium is essential for batteries in smartphones, laptops, and electric vehicles, this find could reshape the global supply chain. With demand for lithium expected to skyrocket tenfold by 2050, the U.S. might finally reduce its dependence on foreign suppliers, especially China. In 2022, America imported 70% of its lithium-ion batteries, but this discovery could change everything. If mining begins as planned in 2026, the U.S. could become a major powerhouse in the lithium industry, fueling both innovation and economic growth.

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00:00This area might just be the most important spot in America right now, as it is worth over $1 trillion.

00:08There's something incredibly valuable hidden right here at Thacker Pass, and it is going to shake things up,

00:15not just in Nevada, but in the U.S. economy and its global relations.

00:20The McDermott Caldera is a massive area, about 28 miles long by 22 miles wide,

00:27stretching across northern Nevada and southern Oregon.

00:30It's in Humboldt County, a quiet, rural place with just one main city that's going to change a lot in the next 5 to 10 years.

00:39That's because they found white gold there.

00:42We're talking about lithium.

00:44And to explain why this metal is so important, we need a scale.

00:49On one side, we place a chunk of lithium, and on the other, an apple.

00:53What do you think will happen?

00:54If both have the same volume, the scale is going to tip toward the apple.

00:59That's because lithium is super light.

01:01Its density is about 0.3 ounces per cubic inch, which makes it the lightest solid you can find at room temperature.

01:10Lithium is also extremely reactive.

01:13That means it combines with other elements very easily, and it can catch fire just as easily.

01:19Mix it with water?

01:20Fire.

01:21Expose it to air?

01:22Yep, fire again.

01:24But when you combine its lightness with its high reactivity, you get a material that's perfect for batteries.

01:31Like the one powering your smartphone, laptop, or even your electric car.

01:38Nevada's been hiding this treasure for about 16 million years.

01:41The McDermott Caldera used to be a volcanic hotspot, spewing molten rock and creating a huge lake filled with mineral-rich waters.

01:51Over time, that lake dried up, leaving behind thick layers of clay loaded with lithium.

01:57Right now, Thacker Pass Mine is sitting on one of the biggest untapped lithium reserves in the world, worth about $1.5 trillion.

02:06If everything goes as planned, they expect it to produce about 40,000 tons of high-quality lithium a year.

02:15And that's enough to make batteries for up to 800,000 electric cars.

02:19Like I mentioned earlier, this metal is the backbone of modern batteries.

02:24And with the world racing toward green energy, the demand for lithium is skyrocketing.

02:30Since 2020, its price has gone up more than 10 times, making it the most expensive battery metal in the world.

02:37That means it's way more expensive than magnesium, nickel, cobalt, and other materials used in rechargeable batteries.

02:45Right now, we're using about 1.16 million tons of lithium per year, and roughly 85% of it goes into making batteries, mostly for cars.

02:56Between 2030 and 2040, experts think we will need to double the money we're putting into production, from $94 billion to $188 billion.

03:07At the same time, investment in batteries will jump by over 200%, reaching $686 billion.

03:16Finally, by 2050, the demand for lithium is expected to be more than 10 times higher than what we're producing now.

03:25Sorry, I know that's a lot of numbers, but I just want to show how important Thacker Pass will be for the whole world.

03:31This mine is going to be key to keeping everything running.

03:34I mean, literally, since most of the future demand will be for things like cars, electric bikes, scooters, and renewable energy storage.

03:43Nevada could also be the epicenter of a global energy revolution, with the U.S. aiming to cut pollution by 50% by 2030.

03:52A big part of that is replacing gas-powered vehicles with electric ones.

03:56And to make that happen, America is going to need a whole lot more lithium than it's producing right now.

04:03Nowadays, most of the metal used in the United States come from countries like Chile and Argentina.

04:09So, if America wants to be a leader in this market, it really needs to invest more and more in projects like Thacker Pass.

04:16But there's another challenge.

04:18Finding lithium in a mine is one thing, but refining it is another story.

04:24Just like diamonds are carefully cut and shaped to bring out their sparkle and sold-in rings and necklaces,

04:30something similar needs to be done with lithium.

04:34The raw material that comes from the mines has to be refined into a pure form that can actually be used in things like batteries.

04:41And China pretty much dominates this part of the market, and they're responsible for about 75% of global lithium-ion battery production.

04:51In other words, it doesn't matter if a country finds this powerful metal on its land.

04:56It will probably still need China to help refine it.

04:59So, the U.S. is eager to strengthen its supply chain.

05:03In fact, they're so excited about this possibility that authorities have invested over $2 billion in loans into the Nevada project.

05:12Because of that, Thacker Pass could make the U.S. a leader in lithium production worldwide.

05:18If their estimates are right, the McDermott Caldera could hold nearly half of the world's known lithium reserves.

05:24It would almost double the reserves found in Bolivia's salt flats, for example, which used to hold the record for the world's largest deposit.

05:34This discovery is about to change Humboldt County for good.

05:39Those quiet streets surrounded by nature will never feel the same again.

05:43The mine will need about 2,000 workers who will probably move there from other cities.

05:48Those workers will need houses, hospitals, schools for their kids, and all the necessary services.

05:55Do you see how it's like a ripple effect?

05:57For every person hired to work on the projects during construction, six more people will get hired in the state to support them.

06:05Thacker Pass is also going to have a huge impact on the economy, not just in Nevada, but all across the country.

06:13People expect the mine to be active for 35 years, and each year, it's expected to generate over $2 billion.

06:21But here's the thing.

06:22In Thacker Pass, they'll be extracting lithium from clay, and this process has never been done on such a huge scale before.

06:31So it's kind of a hit or miss, but if it works, it could completely change the industry.

06:37Big question.

06:39Who's interested in all this?

06:40Well, we've got three big companies eyeing the lithium market in the U.S.

06:46First, there's ExxonMobil.

06:48The oil giant wants to start producing lithium by 2027, and they have plans to become the top supplier for electric vehicles by 2030.

06:56Then there's General Motors, the company behind big car brands like Chevrolet and Cadillac.

07:04They're so interested in this business that they agreed to pay $625 million for a 38% stake in Thacker Pass.

07:13And finally, Tesla.

07:14In 2023, they started building a factory in Texas to process lithium.

07:20It's all part of their plan to handle more of their supply chain themselves.

07:23Now that you know how important lithium is, you might be wondering, what if we run out?

07:31Well, that could happen, since it comes from mining and, just like gold, is a finite resource.

07:37But that doesn't mean we'd have to give up smartphones or electric cars.

07:41If we ever run out of this metal, we'd probably find new ways to produce batteries.

07:47In fact, some experts think thermal batteries could be the next big thing.

07:52They store extra energy from renewable resources like wind or solar power, which are very cheap.

07:59So, they represent a new way of storing energy at a small fraction of the cost.

08:05Nowadays, they're primarily used for powering the production of steel, cement, and chemicals.

08:11Thermal batteries are also being used to heat and cool large buildings.

08:16However, more and more projects are focusing on bringing this technology into private spaces,

08:21like houses and apartments.

08:24Experts are optimistic that initiatives like these could make thermal batteries as well known

08:29as electric batteries, and they might soon become a regular part of our daily lives.

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