24/7 Market News Snapshot 23 September, 2024 – Standard Lithium Ltd. (NYSE:SLI)

September 23, 2024

DENVER, Colo., 23 September, 2024 (247marketnews.com) – (NYSE:SLI) are discussed in this article.
Standard Lithium Ltd. (SLI) has experienced a significant surge in market activity, opening at $1.42 and climbing over 20% to reach $1.645 during the current trading session. This impressive growth follows a previous close of $1.370, further emphasizing the rising investor confidence in the company’s lithium assets. Today’s trading volume has already reached 1.73 million shares, indicating a robust engagement from the market and growing interest in the lucrative lithium sector.

In a strategic development, Standard Lithium, in collaboration with Equinor, has entered into negotiations for a conditional award from the U.S. Department of Energy (DOE) for up to $225 million. This substantial funding forms part of an initiative aimed at enhancing domestic manufacturing capabilities and expanding the production of critical minerals in the United States. This award represents one of the largest federal funding commitments for a critical minerals project nationwide, underscoring the growing importance of lithium in catalyzing energy independence and driving economic growth.

The focus of this investment is Standard Lithium’s South West Arkansas Project, which plans to utilize innovative Direct Lithium Extraction (DLE) technology to ensure sustainable lithium production. In addition to the anticipated economic impact, the project is expected to create over 300 construction jobs and 100 permanent roles, along with meaningful investments in local community development, including infrastructure and healthcare initiatives.

Industry observers and local stakeholders have expressed strong support for this initiative, recognizing its potential to promote cleaner lithium extraction methods while fostering regional growth. Through these concerted efforts, Standard Lithium and Equinor are not only positioned to enhance local economies but are also aligned with the national objective of establishing a sustainable and secure lithium supply chain.

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