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Arkansas is emerging as a key player in U.S. lithium production, with major investments from companies like Exxon Mobil, Albemarle and Standard Lithium. The state’s lithium-rich brine in the Smackover Formation holds the potential to power millions of EVs and reshape energy storage. But, challenges like volatile lithium prices and unproven direct lithium extraction (DLE) technology could impact its growth. CNBC visited Magnolia and El Dorado, Arkansas to explore why the state is emerging as a key player in the lithium market and to examine the economic, technological, and strategic impacts of its extraction initiatives.