Tetra Technologies Inc of The Woodlands, TX has announced the completion of a preliminary technical assessment of lithium and bromine in the company’s brine leases in the Smackover Formation in south west Arkansas. Tetra has previously entered into an option agreement with Standard Lithium Ltd of Vancouver, BC to acquire the lithium rights. Standard must make annual cash payments to Tetra to maintain the option.
Pursuant to the option agreement, after Standard initiates commercial production, a royalty payment replaces the annual cash payments.
Brady Murphy, Tetra’s CEO, commented, “Bromine has been identified as a key mineral resource in zinc bromide energy storage systems and our PureFlow high-purity zinc bromide has been qualified by several battery technology companies. In recent weeks we received our first commercial order for PureFlow high purity zinc bromide and the forecast for PureFlow demand will require us to increase our future supply of bromine. This exploration assessment is the first step for us to quantify the significant potential resource position we have in our Arkansas brine leases. As we extract the bromine from our brine leases to service the oil and gas markets as well as the energy storage markets, we will have access to the lithium in the acreage where Tetra holds 100% of the lithium rights not subject to the Standard Lithium option.”
Tetra says it is not currently able to determine the economic viability of the extraction of the lithium and bromine from the leased acreage.
Volume 35, Issue 15