1116 McArthur St, Magnolia, AR 71753

Nice lot in the lithium boomtown of Magnolia, Arkansas. Priced way below area comparable sales in the area!

• Debit/Credit Cards Accepted
• No Closing Costs
• Cash Price: $1,650
• Finance with $200 Down and 18 Payments of $100 Per Month
• No Credit Check, No Income Documentation, No Prepayment Penalty

Property Address: 1116 McArthur St, Magnolia, AR 71753 (Map location is approximate) County: Columbia Assessor Parcel Number: 01.03305.00000 Legal Description: Lot 15, Block 1, Stevensdale Zoning: Residential Annual Property Taxes: $27.15 Magnolia Arkansas Preparing For Lithium Boom Several companies are expanding in south Arkansas. Some are even looking at the possibly of lithium production, an essential in electric vehicle batteries. One concern, are there enough homes in the city to handle the growth? “The demand for lithium is only going to increase. America needs more lithium production so we’re not reliant on enemy countries like China, that produces so much of the world’s lithium and other rare earth elements. “We need housing. We have the infrastructure. We’re extending infrastructure, but we need housing,” said Magnolia Mayor Parnell Vann. All that housing is needed because ExxonMobil is planning to build one of the world’s largest lithium processing facilities near town. Other companies, such as, Tetra and Standard Lithium, have also acquired thousands of acres in brine leases in Columbia and Lafayette counties. The southwest region is located on a geological formation brimming with saltwater brine. The companies plan to chemically extract lithium from the brine. City leaders believe lithium extraction facilities could bring up to 6,000 jobs to Magnolia. With southwest Arkansas primed to be a leader in lithium production, business leaders in Magnolia say they want to be prepared to take advantage of this growing industry. Even though housing is tough to find right now, he believes if they can get the right investors, more people in town will benefit the entire community. Even without the recent talk of lithium production, Vann says two existing companies in other industries have already made plans for expansion. The Potlatch-Deltic Timber Corporation is investing $130 million in upgrades, and the Albemarle Corporation, a specialty chemical manufacturer, is investing $540 million, which means hundreds of new jobs. State leaders have said south Arkansas potentially has enough lithium to produce about 15% of the world’s lithium. Magnolia, a blue-collar town in the state’s southern region, was once a locus for oil but is on track to become a major producer of lithium, dubbed ‘white gold’ because of its soft, silvery-white look and the fact it powers most modern tech – from cellphones to laptops and electric cars. Exxon Mobil is planning to build one of the world’s largest lithium processing facilities near the town, with a capacity to produce 75,000 to 100,000 metric tons of lithium a year, sources say, which would be 15 percent of the world’s lithium production. The town is located on what is known as the Smackover formation, a geological formation that runs from Texas to Florida and is brimming with saltwater brine – which contains small amounts of lithium. Lithium is going to be huge in Magnolia. It is not so much as the lithium but the jobs that will go with it. He added that everything from truck stops to auto body shops and clothing stores in and around the small town will see growth. Exxon Mobil purchased 120,000 gross acres in May and is developing more than 6,100 lithium-rich acres in Arkansas with Tetra Technologies. Exxon Mobil predicts it could produce up to 110,000 tons of lithium annually, enough to power 50 million electric vehicles. Tetra, which produces chemicals for water treatment and recycling, in June said it had signed an agreement with a company known as Saltwerx to develop 6,138 acres of salty brine deposits in Arkansas that are filled with lithium and bromine, although it provided few additional details. Saltwerx is a subsidiary of Exxon, according to two people familiar with the matter. Also moving into the southern state is Vancouver-based Standard Lithium, which secured rights for 30,000 acres of brine leases west of Magnolia. Standard Lithium announced in May that it sampled Arkansas’s highest confirmed lithium-grade brine.

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