Waste salt, foreground, is shown by an evaporation pond during a tour of the Silver Peak lithium mine near Tonopah, Nev. |
Buoyed by Nevada’s enormous potential reserve of lithium and the opening of Tesla’s Gigafactory nearly 200 miles to the north, 25 mining companies and investor-backed speculators have staked more than 13,000 placer claims, covering almost the entirety of the Clayton Valley and 18 hydrographic basins.
Meanwhile, the price for a ton of lithium carbonate has more than tripled since 2015. According to Deutsche Bank, global demand for lithium carbonate in the next decade could double to 534,000 tons a year. Analysts predict that lithium carbonate could become a $1.7 billion market by 2019.