This blows the 600 million figure out of the water and means everyone will likely be grabbing their shovels and heading to the McDermitt Caldera.
What does the McDermitt Caldera mean for the future of electric vehicles?
The EV industry could be about to boom in a big way (Newsday LLC / Contributor / Getty)
It was previously thought that Chile’s Salar de Atacama salt flat had the biggest lithium deposit in the world, with an estimated 9.3 million metric tons representing over a third of the world’s entire reserves.
This would be eclipsed by the McDermitt Caldera, which would undoubtedly do much more than just potentially lining the pockets of the world’s richest man. The economic implications could disrupt sectors like clean tech investment banking, mining law compliance, and climate-focused healthcare insurance.
Despite questions about the environmental and ethical conundrums of getting the lithium out of the ground, the deposit could revolutionize the EV world by bringing down production costs across the board. If this is the case, experts suggest there would be an accelerated move into the electric market after it’s spent decades struggling to prove its viability.
