From Yahoo Finance: 2025-06-18 07:28:00

Chevron U.S.A. has made its entry into the domestic lithium market by acquiring two leasehold acreage positions known for their high lithium content. The acquired acreage, estimated at around 125,000 net acres, is located in areas with significant lithium content, positioning Chevron to establish a commercial-scale domestic lithium operation.

The acquisition from TerraVolta Resources and East Texas Natural Resources marks Chevron’s first venture into the lithium sector. Chevron plans to employ the direct lithium extraction (DLE) process for future development, offering a more efficient production method with a potentially smaller environmental footprint than traditional methods.

Chevron New Energies president Jeff Gustavson highlighted the strategic investment in supporting energy manufacturing and expanding US-based critical mineral supplies. The transaction between TerraVolta, its investor EMG, and Chevron has been finalized, transferring all equity interests in two subsidiaries that own the leasehold acreage positions to Chevron.

TerraVolta president and CEO Jamie Liang emphasized the urgency to develop domestic critical minerals to unleash American energy prosperity. Chevron’s move to establish a resilient lithium supply chain aligns with the growing demand from customers and supports US energy leadership.



Read more at Yahoo Finance: Chevron acquires lithium leasehold acreage in US