Pushing the Price of Olivine Down

Pushing the Price of Olivine Down

Because there is currently limited demand for olivine, the price remains at a premium. Being one of the most abundant minerals in the upper mantle, there are large untapped reserves of olivine in massive formations. Once tapped into, these new reserves can dramatically increase the supply, and thereby dramatically lower the price of olivine. We need your help to create the demand.

The Greensands organization has been selling olivine for agricultural dispersion and other CO2 removal uses for the last decade and has seen the price of olivine plummet from around €200/ton to around €25/ton as they went from 0 tons/year to 30,000 tons/year.

The actual cost of mining and milling the rock is only about $7/ton and transport is only $3/ton, so it is possible to bring the price per olivine ton spread on a beach to $10 per ton. So with 1.25 tons of CO2 removed for each 1 ton of olivine weathered, the cost per ton of CO2 removed from the atmosphere can be less than $10/ton.

Last updated on May 18, 2020
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