ExxonMobil agrees to supply LG Chem with up to 100,000 tons of lithium, sourced from Arkansas.

ExxonMobil has signed a preliminary deal to supply up to 100,000 tons of lithium carbonate to LG Chem over several years. The lithium will be sourced from Exxon's planned project in Arkansas. This agreement follows a similar deal with SK On Co. and aligns with the US government's goal to reduce reliance on China for critical minerals. Despite market challenges like oversupply and a slowdown in EV demand growth, Exxon aims to position itself for future lithium demand.