Lithium Deposits in Germany!

UK-based Neptune Energy discovered a 43-million-ton lithium deposit beneath Saxony, Germany, in an area previously used for gas excavation. The deposit is estimated at around 43 million tons, making it one of the world’s largest known lithium resources. Some estimates value the find at more than $1 trillion, with the potential to support batteries for hundreds of thousands of electric vehicles. The discovery could play a major role in reducing Europe’s dependence on imported battery materials and suppliers, including , which currently provides batteries for automakers such as , , and . Neptune Energy CEO said the project could “contribute significantly to the German and European supply market for the critical raw material lithium.” The find is being viewed as a potentially important development for Europe’s electric vehicle and battery industry.