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Business News
January 21, 2019 / 5:28 AM / Updated 2 hours ago
Berkshire's lithium venture may supply U.S. automakers, including Tesla: FT

(Reuters) - Warren Buffett’s Berkshire Hathaway Inc has signed an agreement to allow extraction of lithium from its geothermal wells in California, a project that could offer U.S. carmakers and battery producers a secure supply of the metal, the Financial Times reported on Sunday.

The venture has been in talks to supply Tesla Inc with lithium, a component for batteries to power electric cars, the newspaper reported, citing people familiar with the company.

Berkshire Hathaway’s geothermal wells could produce up to 90,000 tonnes of lithium a year worth $1.5 billion at current prices, the report said, citing a fundraising document. More......

https://www.reuters.com/article/us-berkshire-lithium/berkshires-lithium-venture-may-supply-u-s-automakers-including-tesla-ft-idUSKCN1PE0SX?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+reuters/businessNews+(Business+News)

<blockquote data-quote="Ann" data-source="post: 1011043" data-attributes="member: 2506"><a href="https://www.reuters.com/news/archive/businessNews" target="_blank">Business News</a>January 21, 2019 / 5:28 AM / Updated 2 hours agoBerkshire&#039;s lithium venture may supply U.S. automakers, including Tesla: FT(Reuters) - Warren Buffett’s Berkshire Hathaway Inc has signed an agreement to allow extraction of lithium from its geothermal wells in California, a project that could offer U.S. carmakers and battery producers a secure supply of the metal, the Financial Times reported on Sunday. The venture has been in talks to supply Tesla Inc with lithium, a component for batteries to power electric cars, the newspaper reported, citing people familiar with the company. Berkshire Hathaway’s geothermal wells could produce up to 90,000 tonnes of lithium a year worth $1.5 billion at current prices, the report said, citing a fundraising document.&nbsp; &nbsp; &nbsp; &nbsp; More......<a href="https://www.reuters.com/article/us-berkshire-lithium/berkshires-lithium-venture-may-supply-u-s-automakers-including-tesla-ft-idUSKCN1PE0SX?feedType=RSS&amp;feedName=businessNews&amp;utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29" target="_blank">https://www.reuters.com/article/us-berkshire-lithium/berkshires-lithium-venture-may-supply-u-s-automakers-including-tesla-ft-idUSKCN1PE0SX?feedType=RSS&amp;feedName=businessNews&amp;utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed:+reuters/businessNews+(Business+News)</a></blockquote>

[QUOTE="Ann, post: 1011043, member: 2506"] [URL='https://www.reuters.com/news/archive/businessNews']Business News[/URL] January 21, 2019 / 5:28 AM / Updated 2 hours ago [SIZE=6][B]Berkshire's lithium venture may supply U.S. automakers, including Tesla: FT[/B] [B][/B] [I][SIZE=5](Reuters) - Warren Buffett’s Berkshire Hathaway Inc has signed an agreement to allow extraction of lithium from its geothermal wells in California, a project that could offer U.S. carmakers and battery producers a secure supply of the metal, the Financial Times reported on Sunday. The venture has been in talks to supply Tesla Inc with lithium, a component for batteries to power electric cars, the newspaper reported, citing people familiar with the company. Berkshire Hathaway’s geothermal wells could produce up to 90,000 tonnes of lithium a year worth $1.5 billion at current prices, the report said, citing a fundraising document.[/SIZE][/I][SIZE=5] More...... [URL]https://www.reuters.com/article/us-berkshire-lithium/berkshires-lithium-venture-may-supply-u-s-automakers-including-tesla-ft-idUSKCN1PE0SX?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29[/URL][/SIZE] [B][/B][/SIZE] [/QUOTE]

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