DALLAS--(BUSINESS WIRE)--Sep 11, 2023--

The iPhone is a device that redefined the term "cell phone." With about 1.2 billion active devices out in the world, Apple's trademark product created a revolution in the mobile phone industry, marking a shift away from the flip phones and keyboards of the past toward a future full of larger touch screens and powerful cameras.

Scientists say they have discovered the largest lithium deposit in the world inside an extinct volcano in the United States, capable of meeting global battery demand for decades. Volcanologists and geologists reported evidence of the McDermitt caldera on the border of Nevada and Oregon containing up to 120 million tonnes of lithium, holding the potential to disrupt the price and supply dynamics of lithium globally. The ancient supervolcano exploded around 16 million years ago, forming the rare metal inside its volcanic rock. Lithium ion batteries are used to power everything from smartphones to electric vehicles, however the vast amounts of lithium required to produce them has led to a “lithium rush”, according to the researchers. Current supply forecasts suggest roughly 1 million metric tons of lithium will be needed to meet global demand by 2040 – an eight-fold increase from the total global production last year. Calculations from researchers estimate that the McDermitt caldera could contain up to 120 million metric tons of lithium, making it 12-times larger than the amount of lithium in the salt flats in Bolivia, which were previously considered the largest lithium deposit on Earth. “Developing a sustainable and diverse supply chain to meet lower-carbon energy and national security goals requires mining the highest-grade domestic lithium resources with the lowest waste:ore strip ratios to minimise both the volume of material extracted from the Earth,”the researchers noted in a study, published in Science Advances. “Volcano sedimentary lithium resources have the potential to meet this requirement, as they tend to be shallow, high-tonnage deposits with low waste:ore strip ratios.” Mining could begin as early as 2026, according to geologists at Lithium Americas Corporation, who made the discovery alongside GNS Science and Oregon State University. However, the site for a proposed mine on the Nevada side of the caldera has already drawn protests from environmental groups, as well as two area tribes who claim it would be built atop sacred land. Responding to the latest discovery, Tesla boss Elon Musk said the deposit will only be economically significant to the electric car industry if it can be refined in an efficient way. “Lithium ore is quite common throughout the world. The limiting factor is lithium refining,” Mr Musk posted on X, formerly known as Twitter, on Sunday. “Same goes for the cathode, which is primarily iron (medium range cars) or nickel (long range) and the anode, which is carbon. Refining matters more than ore.” Read More Battery breakthroughs are about to trigger a transport revolution Former Alibaba chair Daniel Zhang steps down as head of cloud division How Google reshaped the world – and is about to do it all over again Update your iPhone immediately

Self-driving technology maker Mobileye Global named insider Moran Rojansky as its chief financial officer on Monday, succeeding Anat

By Stephen Nellis Qualcomm on Monday said it had signed a new deal with Apple to supply 5G

Two geothermal sites in south-west England are proceeding toward financial close after receiving government contracts in a renewables

Daniel Zhang, the former CEO of Alibaba, has stepped down from his position in the tech giant’s cloud division, in a move that has shocked industry leaders. The 51-one-year-old had taken charge of the cloud division just months ago. Since the announcement by Alibaba, the component stock dropped 3 per cent on Monday in Hong Kong. “The board of our company expresses its deepest appreciation to Mr Zhang for his contributions to Alibaba Group over the past 16 years,” Alibaba said in a statement. Eddie Yongming Wu will succeed Mr Zhang as the acting chairman and CEO of its cloud unit, according to the statement. Nearly three months ago, Mr Zhang quit as company chief and said that he wanted to take care of the spin-off of its cloud business. Now, as Alibaba announced his exit from the cloud division amid the biggest-ever restructuring of the company, Mr Zhang’s exit has come as a surprise to analysts. “We were surprised by the announcement,” Citi analysts wrote on Monday. “Mr Zhang may have wanted to step back from the public spotlight, in our view,” they added, according to CNN. The cloud division is currently estimated to be worth $41bn - $60bn. However, analysts said the reams of data it oversees puts it at risk of facing regulatory scrutiny from both domestic and international regulators. Alibaba split into six business groups – including cloud, e-commerce, logistics, media and entertainment – in March in a major restructuring. “Daniel has expressed his wish to transition away from his role as chairman and CEO of Cloud Intelligence Group,” Alibaba said in the letter. “Following careful consideration, the Alibaba board respected and accepted Daniel’s decision and appointed Eddie as acting chairman and CEO of Cloud Intelligence Group, effectively immediately.” Citi analyst Alicia Yap was quoted as saying by CNBC on Monday that “investors may be concerned that the timing and process of AliCloud’s spin-off may be affected”. She added that Citi will continue to monitor developments and that they are awaiting any new announcements. CNN reported that in an internal letter to employees, Joseph C Tsai, chairman of Alibaba Group, said that he and Mr Wu are looking forward to embracing “the next phase” of Alibaba’s development. “This past March, we embarked on our most ambitious reorganisation in Alibaba’s 24-year history – “1+6+N” – in order to position the company for the future,” he wrote on Sunday, referring to the company’s organisational structure after the restructuring – 1 holding company, six business groups and various businesses. “Under Daniel’s and our team’s dedicated efforts, the reorganisation is making steady progress while our business continues to grow.” Read More Chinese e-commerce giant Alibaba announces new CEO and chairman in major management reshuffle Chinese e-commerce giant Alibaba says it will not sell shares in Ant's buyback program Chinese livestreamers set their sights on TikTok sales to shoppers in the US and Europe How Google reshaped the world – and is about to do it all over again Update your iPhone immediately The new iPhone could be the most expensive ever by far

A little over a year ago, Peter Gardner, a Louisiana developer, completed rehabbing an apartment building with 144

A troll stopped xQc and Zoil while they were livestreaming in London

By Max A. Cherney Nvidia's supremacy in building computer chips for artificial intelligence has chilled venture funding for

Sean Newman had an elaborate plan to propose to his long-time love Janice Dean 15 years ago but nothing quite went the way he wanted

Credit card disputes at Visa Inc. continued rising past their pandemic boom despite the proliferation of prevention software,