Tesla Motors has signed an agreement with Pure Energy Minerals for the development of a lithium mine in Clayton Valley, Nevada.
Pure Energy Minerals is conducting a preliminary economic assessment to make sure that it can start mining at the site. If the assessment is positive, then as under the agreement, Tesla will purchase a specific amount of lithium at a predetermined price for five years.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Tesla will use the lithium hydroxide to manufacture batteries at its Gigafactory, which is located three and a half hours from the mine site, arstechnica reported, citing Reno Gazette Journal.
