SVN® Internation Corp. presents the Energy Report Series prepared by Director of Research, Cameron Williams.
In the final installment of our energy series, we delve into the pivotal role of lithium, a mineral driving significant developments nationwide. Fueled by government incentives and a strategic push for energy independence, lithium-rich regions are poised to reshape the commercial real estate landscape. The surge in demand for lithium, a crucial component in electric vehicle and energy storage batteries, is expected to drive interest in industrial spaces for processing facilities. This, in turn, will spark residential and infrastructural development to support the growing workforce, reminiscent of historical boom towns tied to resource extraction.
Cities like Pittsburgh, Houston, Denver, San Francisco, Cleveland, and Birmingham owe their historical rise to rich natural resources, and the recent discovery of the McDermitt Caldera lithium deposit along the Oregon-Nevada border in September 2023 adds a new chapter. Potentially the world’s largest lithium reserve, with estimates ranging from 20 to 40 million metric tons and a staggering value of $1.5 trillion, this deposit could become a catalyst for the emergence of a new population center, echoing the economic transformations seen in past mining boom towns. Keep reading below!
