Texas-based Ocean Minerals says the area is also rich in scandium, a key ingredient for making an extremely light, strong, corrosion resistant, heat tolerant and weldable alloy.
The current lithium frenzy will end badly while gold bugs should look at the riper opportunities available in copper and platinum, according to mining financier Robert Friedland.
The amount of lithium being produced in North America will not be enough to meet the growing demand for electric vehicles, but the problem could be alleviated through recycling, says a renowned authority on specialty metals.
More than half of the world’s identified resources of the mineral are found in South America's "lithium triangle", a region where Canada's Wealth Minerals has been acquiring assets.
The finding has Archer Exploration Limited’s 2873 sq km Eyre Peninsula Graphite Project on track to become one of Australia’s first new-era graphite mines.