$1.5 Billion Lithium Deposit Found In Newry Maine

Imagine realizing that the property you own contains some mineable deposits. Not just any deposits but lithium deposits that could be worth around one and a half billion dollars.

Pretty nice to think about right?

Now imagine having all that wonderful resource in your back yard but due to the mining laws in Maine you don't have access to be able to mine it.

Well according to an article by the Mine Monitor, that is exactly the case for Mary & Gary Freeman and the newly discovered lithium deposit discovered a few miles away from Sunday River ski resort in Newry.

There have been several smaller deposits located in Maine before but nothing like this. Experts are already gushing that this is a world class discovery.

The problem is that Maine has mining laws in place that may make it impossible to legally access the lithium crystals.

The laws that stand in the way are relatively recent laws passed in 2017. Granted the laws are meant to protect the enviorment from the harmful effects of commercial mining.

For now it is a game of wait and see. The Maine DEP is going to have to take a closer look, and depending on the proposal to access the lithium deposits, it may be something worth pursuing, or then again, it may never happen.

The Freemans don't have stars in their eyes regarding to potential that lies in rest on their property. Time will tell and the demand for lithium will surely only become greater as we rely more and more on lithium batteries for energy storage.

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