The newspaper reported that Neptune Energy has discovered massive lithium deposits in Altmark, according to its own data. This could bring a significant shift in the future of the German automotive industry, as lithium is an integral part of electric car batteries, smartphones, and tablets.
The newspaper added that Altmark contains 43 million tons. It pointed out that the extraction process will not follow traditional methods. Instead, thermal water is to be pumped from the depths to the surface, while lithium will be extracted through a filtration system, and then the water will be pumped back.
IW Consult estimates the potential total added value of the project in Germany, if fully implemented, to be about 6.4 billion euros (7.4 billion dollars) between 2025 and 2042. The newspaper further mentioned that the project is still in its early stages, but if everything goes according to plan, commercial production is expected to begin in 2033.
