DOE issues finding of no significant impact for Smackover SWA project

Smackover Lithium, a partnership between Standard Lithium (SLI) and Equinor (EQNR), announced that the U.S. Department of Energy, or DOE, has concluded its review of the South West Arkansas Project, or SWA project, under the National Environmental Policy Act, or NEPA. The DOE issued a finding of no significant impact, or FONSI, based on the Environmental Assessment prepared and did not impose any further mitigation measures or conditions on the project. Receipt of a FONSI marks the completion of the U.S. federal government’s NEPA review process for the SWA project, which was required in connection with the awarding of a $225M grant from the DOE’s Office of Critical Minerals and Energy Innovation to support development of the initial phase of the project. The DOE grant was awarded in January 2025. The project was assisted in this timely review process by its designation as a priority critical mineral project in the Fast-41 Program under Executive Order 14241: Immediate Measures to Increase American Mineral Production. There are no further federal government reviews or approvals expected in order to take a final investment decision for the project. Smackover Lithium continues advancing key construction contracts, customer offtake and project financing workstreams required ahead of final investment decision for the SWA project. Further updates on these efforts will be provided as progress is made and deliverables are achieved. The partnership expects to take final investment decision and begin construction in 2026, and to achieve first commercial production in 2029.