A new study by the U.S. Geological Survey found massive lithium reserves in southwestern Arkansas that could have between 5 million and 19 million tons of lithium.

Federal and state researchers said there might be five million to 19 million tons of lithium, more than enough to meet the world’s demand for the battery ingredient.

Arkansas is sitting atop lithium reserves that could be vast enough to satisfy the entire world’s demand for EV batteries, according to the US Geological Survey (USGS). It estimates that there could be 5 to 19 million tons of lithium under southwestern Arkansas.

Shares of lithium producers posted strong gains Tuesday in the wake of new research that suggests Arkansas may contain as much as 19M tons of lithium reserves, which would meet projected global lithium demand for electric vehicle batteries in 2030 by more than 9x - if it can be recovered.

Researchers now estimate how much “white gold” may be found in southern Arkansas's vast lithium reserves: up to 19 million tons, or enough to meet the projected 2030 world demand nine times over.