00:00USGS confirms world's largest lithium deposit, 40 million tons found inside ancient Oregon volcano.
00:08The US found a 40 million ton lithium deposit under Oregon Nevada's McDermott Caldera,
00:13worth $1.5 trillion, offering a domestic EV battery source amid rising global demand and
00:19dependence on Chinese refining. By 2026, the lithium market is expected to shift from
00:26surplus to deficit, driving prices higher. The US currently imports most lithium chemicals,
00:33creating security and cost concerns. Projects like McDermott are critical to diversify supply
00:39chains, support EV growth, and reduce Chinese dependence on cathode production. McDermott
00:45Caldera, formed 16 million years ago, is one of the largest volcanic calderas in North America.
00:51Hydrothermal fluids concentrated lithium in clay-rich sediments over millions of years,
00:56creating a rare and strategically important clay-hosted deposit.
01:01Lithium is classified as a critical mineral by the US government. McDermott could enhance
01:06energy independence, supply EV battery production, and reduce Chinese reliance. However, environmental
01:13and indigenous concerns complicate permitting and development, highlighting tensions between
01:18strategic priorities and local stewardship. Lithium is concentrated in claystones, particularly
01:24near Thacker Pass. If economically recoverable, it could supply hundreds of thousands of EVs annually.
01:32The scale of the deposit makes it one of the largest globally. The area is sparsely populated,
01:37supporting ranching, wildlife, and small towns. Mining may bring jobs and infrastructure
01:43improvements, but also risks like dust, water usage, and habitat disruption, illustrating the local
01:50national trade-offs. Thacker Pass is operated by Lithium Americas, approved by the Bureau of Land
01:56Management in 2021. GM invested $650 million to secure supply, while Australian Jindalee Resources explores
02:05nearby deposits. McDermott has become a hub for domestic lithium development. Most lithium comes from Australia
02:12and South America, refined in China. McDermott could diversify supply, but extracting lithium from clays
02:19is complex, requiring energy-intensive acid leaching. Clay-based extraction produces tailings requiring
02:25careful disposal to prevent soil and water contamination. Environmental stewardship is critical in the high
02:32desert. Tribal nations and conservation groups challenge mining due to sacred sites, wildlife,
02:38and groundwater risks. Local ranchers also raise concerns about cumulative impacts on ecosystems.
02:45The BLM approved large-scale mining in 2021, and Department of Energy provided a conditional $2.3 billion
02:52loan for development. Federal policy frames McDermott as essential for domestic clean energy supply chains.
02:59Lithium concentrations near Thacker Pass reach up to 18,000 parts per million. Phased mining aims to
03:06produce battery-grade lithium carbonate with mitigation measures like groundwater monitoring and habitat
03:11protection. Developing McDermott could strengthen U.S. energy independence, stabilize EV supply,
03:18and set a precedent for responsible resource extraction. With a global lithium deficit looming in 2026,
03:25rapid approvals and development are urgent. Decisions at McDermott will impact EV production,
03:32energy security, and environmental stewardship.
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