India, June 17 -- TerraVolta Resources, LLC and its investor, The Energy & Minerals Group - EMG, have finalized the sale of all equity interests in two subsidiaries holding leasehold acreage in East Texas and Southwest Arkansas to Chevron U.S.A. Inc., a unit of Chevron Corporation (CVX).
The transaction gives Chevron approximately 100,000 net acres, marking its entry into a U.S. lithium resource position and advancing its plans for a domestic, commercial-scale lithium business.
TerraVolta's President and CEO, Jamie Liang, emphasized that the deal advances the development of a significant portion of TerraVolta's resource and supports the growing need for domestic critical minerals to strengthen U.S. energy security.
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