Scientists discover $540 billion worth of 'white gold' sitting beneath giant lake

Scientists have discovered $540 billion worth of 'white gold' sitting underneath a huge lake.

Located in southern California, Salton Sea is the largest in the state and sits on a lithium reservoir.

While scientists knew that the chemical element was there, they didn't know just how much lithium was beneath the lake - and the true amount is pretty astounding.

Millions of tons of lithium has been found beneath the Salton Sea. (Brian van der Brug / Los Angeles Times via Getty Images)

Last year, it was revealed that there could actually be a staggering 18 million tons of lithium - also referred to as 'white gold' due to its value and appearance - rather than the previously thought figure of four million tons.

For context, this would be enough to power more than 382 million batteries for electric vehicles.

The true figure was discovered in a study funded by the Department of Energy (DOE) which researched the Salton Sea to try analyze just how much lithium is underneath the huge body of water.

California Governor Gavin Newsom has previously described the Salton Sea as the 'Saudi Arabia of lithium mining' - and it's now understandable why.

In light of the new discovery, it makes the California-based reservoir the largest in the world.

It's been called the 'Saudi Arabia' of lithium mining. (Brian van der Brug / Los Angeles Times via Getty Images)

As of last year, one metric ton of lithium was worth around $29,000.

With that figure in mind, Salton Sea could be sat atop of $540 billion worth of goods.

One of the study's 22 authors, Michael McKibben, a geochemistry professor at the University of California, Riverside, said of their findings: "This is one of the largest lithium brine deposits in the world.

"This could make the United States completely self-sufficient in lithium and stop importing it through China."

Others in the industry have hailed the finding as 'huge'.

Sammy Roth, climate columnist for the Los Angeles Times, said on KJZZ radio's The Show: "It's been known for a long time that there's a whole bunch of lithium in this super heated underground pool, sort of deep beneath the the southern end of the Salton Sea."

Lithium gets the name 'white gold' from its white, sand-like appearance. (DOUGLAS MAGNO/AFP via Getty Images)

Roth continued: "There have been companies for decades, actually that have been trying to get lithium out of there, and especially in the last decade as electric vehicles and energy storage on the the power grid become such a big need.

"But this this new report out of the federal government it's really a sort of eye popping number. They found that there's potentially enough lithium down there to supply batteries for 382 million electric vehicles, which is more, more vehicles than there are on the road in the United States today.

"So, if we could get all that lithium, that'd be huge."