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Monday, 01/21/2019 5:41:52 PM

Monday, January 21, 2019 5:41:52 PM

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"Berkshire's lithium venture may supply U.S. automakers, including Tesla -" FT

"(Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) has signed an agreement to allow extraction of lithium from its geothermal wells in California, a project that could offer U.S. carmakers and battery producers a secure supply of the metal, the Financial Times reported on Sunday.

The venture has been in talks to supply Tesla Inc (TSLA.O) with lithium, a component for batteries to power electric cars, the newspaper reported, citing people familiar with the company.

Berkshire Hathaway's geothermal wells could produce up to 90,000 tonnes of lithium a year worth $1.5 billion at current prices, the report said, citing a fundraising document.

"We see a lot of interest in getting North American supply as automakers start to get further into electric vehicles," the FT quoted Eric Besseling, a vice president at BHE Renewables, as saying."

https://finance.yahoo.com/news/berkshires-lithium-venture-may-supply-185043290.html

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