California Governor's Budget Summary: Lithium Valley Development

Country / jurisdiction: United States · Year: 2022 · Status: In force · Level: State/Provincial · Type: Voluntary

The California Governor's Budget Summary outlines budget provisions and general priorities for the State of California over a fiscal year.

California has abundant untapped lithium reserves in geothermal brine under the Salton Sea. Experts indicate that these reserves could fulfill over one-third of today's global lithium demand.

In accordance with federal priorities on ensuring stable domestic supply of critical minerals, the California Governor's Budget Summary for FY2022 outlines a robust economic investment incentive infrastructure, including federal and state grants, to build out a lithium production and processing industry in the Salton Sea Region. The Budget Summary also mentions eventual collaboration between the branches of California's government to ensure expedited permitting for geothermal and lithium extraction facilities in the region as well as to establish royalties on extraction.

Lithium extraction and processing in the Salton Sea region would help to decrease American dependence on foreign critical minerals and to secure a domestic supply chain for lithium.

Official source: https://ebudget.ca.gov/2022-23/pdf/BudgetSummary/FullBudgetSummary.pdf#page=94