Nevada Lithium Mining Expands To Take On $87B Project

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.