If Simbol Mining's plans work out, within a decade it will deliver one-fourth of the world's increasing demand for lithium, used in batteries of hybrid and electric cars without creating waste or pollution.
The start-up eventually aims to mine more than 100,000 tons of lithium carbonate each year from geothermal sources. That's more than the current annual market for the compound; the company expects demands for it to quintuple by 2013.
Current mining methods won't provide enough for the future need for lithium-ion batteries, according to Meridian International Research.
Geothermal power plants bring silica, lithium, … Read more