Georit Energy Completes Negotiations for Geothermal Power Plant to Extract 2,800 Tons of Lithium Annually in the US

Geolith Energy, which is advancing lithium projects in the United States, is accelerating efforts to secure geothermal brine capable of extracting approximately 2,800 tons of lithium annually.

On the 20th, Geolith Energy announced that it is coordinating detailed terms for a main contract on a geothermal power plant with Ormat Technologies, the world's leading geothermal power specialist.

This geothermal power plant is located in Brawley near the Salton Sea in California. The acquisition terms include ownership of all real estate related to the geothermal power plant, surface or mineral leases, improvements and support equipment related to plant operations, and spare parts.

A Geolith Energy official stated, "We are thoroughly reviewing various matters related to the acquisition of the geothermal power plant," adding, "We plan to finalize the formal contract soon and prepare for pilot operation startup."

The geothermal power plant to be acquired can secure 4,500 gallons per minute of brine with lithium content ranging from 60 to 200 ppm. It is expected to extract lithium from approximately 2.306 billion gallons of brine annually. Assuming a lithium content of 60 ppm in the brine, about 2,800 tons of lithium carbonate equivalent (LCE) can be extracted. Considering the current lithium carbonate price of 292.5 yuan per kilogram, this amounts to approximately 140 billion won.

Geolith Energy plans to apply Israeli company XtraLit's technology for lithium extraction. XtraLit has developed an ion exchange DLE (Direct Lithium Extraction) technology based on sorbents, extracting lithium from low-concentration brine ranging from 5 to 300 mg/l. Geolith Energy invested $15 million to acquire a 29.88% stake in XtraLit, becoming the largest single investor.

The official added, "Currently, the extractable geothermal brine is at a depth of about 100 to 200 meters, but additional drilling up to 500 to 1,000 meters is possible," explaining, "Due to the nature of geothermal brine, the deeper the depth, the higher the lithium concentration, and the greater the amount of lithium that can be extracted."

He continued, "We plan to build XtraLit's pilot plant and install it for trial operation at the geothermal power plant," emphasizing, "We are planning not only additional deep drilling but also to increase the number of wells extracting geothermal brine from the current two to about ten."

He said, "The acquisition of the Brawley geothermal power plant is expected to serve as a foothold for lithium supply in the United States," adding, "We also plan to establish cooperative relationships to secure additional mineral rights with global companies such as Warren Buffett's Berkshire Hathaway and General Motors, which are conducting lithium extraction exploration activities near the Salton Sea."

This content was produced with the assistance of AI translation services.