Arkansas Legislators Approve Contract for Lithium Supply Chain Analysis with Renaissance Energy Advisors
The Arkansas Legislative Council approved a $90,000 contract with Renaissance Energy Advisors to analyze the state's role in the lithium supply chain. The one-year contract aims to position Arkansas as a competitive hub for lithium battery production, leveraging its lithium reserves in the Smackover formation. Standard Lithium plans to begin production in 2028, creating 100 to 125 jobs. The Smackover Formation contains 5 to 19 million tons of lithium reserves, sufficient to meet projected global demand for lithium car batteries by 2030.
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The Arkansas Legislative Council's Review Subcommittee approved a $90,000 contract with London-based Renaissance Energy Advisors to analyze Arkansas' role in the global lithium supply chain. This one-year contract aims to position Arkansas as a competitive hub in the lithium battery industry.
Standard Lithium plans to start production in 2028, creating 100 to 125 jobs. The Smackover Formation in southern Arkansas contains 5 to 19 million tons of lithium reserves. The Arkansas Oil and Gas Commission approved a 2.5% royalty for lithium extraction, resolving a dispute between Standard Lithium and local property owners.
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