(The Center Square) – Amidst widespread speculation and local pushback, northern Nevada has taken another step toward realizing its lithium potential with an estimated $87 billion Elko County mine.
Nevada has the largest lithium deposits and mines in the United States. As the rare earth mineral swells in demand for its use in batteries, mines like Surge Battery Metals’ recently announced $87 billion could come to dominate the Silver State.
“The Nevada North Lithium Project is poised to play a significant role in securing America’s supply of critical minerals, particularly lithium, which is essential for the burgeoning electric vehicle and battery energy storage industry,” said Surge Battery Metals President and CEO Greg Reimer in a March press release about the site.
Nevada lithium deposits currently account for eight of the 10 biggest in the U.S., with considerable exploration left to do for the booming resource.
The largest known lithium reserve in the world, McDermitt Caldera rests between Nevada and Oregon with an early estimate of $1.5 trillion for the “white gold” sitting mostly on the Nevada side of the border.
Surge Battery Metals’ Nevada North Lithium Project in Elko County has not yet given a start date for the proposed 42 year project. But it has detailed an anticipated $1 billion yearly cash flow after taxes. At that rate, the Vancouver, Canada-based company would be paid back for its investments in under five years.
Yet questions remain around how much money will find its way into the pockets of Elko County’s roughly 50,000 residents. Spread across the population, the mine profits would come out to around $20,000 per resident annually.
With over 8% of residents employed in some form of mining work, it is not unlikely that some money will come back to the community.
“Developing this vital resource will not only complement existing energy sources but also play a key role in advancing our shared goal of achieving U.S. energy independence,” said Nevada Gov. Joe Lombardo in an April press release asking President Donald Trump to end tariffs on lithium. “Nevada has already become a hub for energy technology and remains committed to attracting and driving continued growth in this space.”
The mining company has not detailed how many jobs would come from local residents, beyond an estimated “thousands of high paying jobs,” and did not respond to an immediate request for comment from The Center Square. The Governor’s Office of Economic Development also did not respond to a request for comment.
People concerned about efforts to expand mining in northern Nevada have expressed environmental concerns. But Surge Battery Metals’ NNLP preliminary economic assessment made it clear there would be no toxic ponds left behind in the area to hold the mine’s waste material, called a tailings pond.
“Even using best in class environmental practices, NNLP could potentially be a major low-cost producer of battery-grade lithium carbonate for the United States battery industry, and we have taken a major step in achieving that with today’s results,” said Reimer in the economic assessment.
In 2020, Nevada ranked top nationally for the EPA’s Toxic Release Inventory by area, largely due to a handful of gold mines. The 2023 bill AB 313, which sought to require mining companies to backfill pits, received a “no” vote from Elko County Assemblymember Bert Gurr. The bill was never signed into law.
Mining has been a staple of the Silver State since the mid-1800s.
This article was originally published at www.thecentersquare.com
