Oil major Exxon Mobil has agreed to develop more than 6,100 lithium-rich acres in Arkansas, US, with Tetra Technologies, according to a report.
Reuters reported that it is the second move this year by the company to secure materials needed to make electric vehicle (EV) batteries.
It said Tetra, which produces chemicals for water treatment and recycling, earlier this week signed an agreement with Saltwerx to develop 6,138 acres of salty brine deposits in Arkansas. They are reportedly filled with lithium and bromine, although few details were available.
Saltwerx is a subsidiary of Exxon, according to Reuters. Financial terms were not disclosed. Exxon will be contributing about 2,000 acres and Tetra around 4,100 acres to the partnership, the report said.
