Lilac is part of a growing number of technology developers seeking to extract lithium from saltwater brines faster, cheaper and with less water than evaporation ponds.

Partnership will evaluate ways to improve supplies of heavy and light rare earth materials and magnets, copper and electrical steel.

The transition to renewable energy and electrification will require tons of metals, and copper is considered the most essential.

The global auto industry’s shift to electric vehicles has spurred an expansion race among battery makers.

Commissioning of phase one of First Cobalt’s low-carbon hydrometallurgical refinery is scheduled for the fourth quarter of 2022.

The federal government-controlled miner has already announced plans to invest in solar wafer manufacturing and power generation.

Miners are racing to raise money and expand projects, with global demand for the electric-vehicle battery metal set to soar in the coming decade.