Wednesday, May 11, 2022 9:01:58 PM
Rumors about Tesla entering the lithium-mining business started buzzing around in April after the company hired an exploration geologist from Rio Tinto, the world’s second-largest metals and mining corporation. CEO Elon Musk pretty much confirmed as much in an April 8 tweet:
“Price of lithium has gone to insane levels! Tesla might actually have to get into the mining & refining directly at scale, unless costs improve. There is no shortage of the element itself, as lithium is almost everywhere on Earth, but pace of extraction/refinement is slow,” Musk says.
GO TINO!
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