CHARLOTTE, N.C., Jan. 7, 2021 /PRNewswire/ -- Albemarle
Corporation (NYSE: ALB), a leader in the global specialty chemicals
industry, announced today that it will expand capacity at the
company's lithium production facility in Silver Peak, Nev., and
begin a program to evaluate clays and other available Nevada resources for commercial production of
lithium, a critical mineral and key component in advancing green
mobility and a more sustainable future.
As global demand for electric vehicles (EV) grows, North
American automotive manufacturers are seeking to
regionalize their supply chain for greater security and
sustainability. Albemarle's
investment in Silver Peak, which produces lithium from brine
extracted from the Clayton Valley basin, will support this
increased demand for domestic supply of lithium. Beginning in 2021,
the company plans to invest $30
million to $50 million to
double the current production at the Nevada site by 2025, making full use of its
brine water rights. Additionally, in 2021 the company plans to
commence exploration of clay and evaluate technology that could
accelerate the viability of lithium production from clay resources
in the region.
"As a leader in the lithium industry, our priority is to
optimize our world-class resources and production. This includes
Silver Peak, a site uniquely positioned as the only
lithium-producing resource in the United
States," said Eric Norris,
Albemarle President, Lithium. "This investment in domestic capacity
shows that we are committed to looking at the many ways in which
Silver Peak can provide domestic support for the growing EV
market."
In addition to examining clay resources, Albemarle is seeking ways to optimize lithium
extraction from its brine resources, including those in the Clayton
Valley. Through a Department of Energy-sponsored research project
with Argonne National Laboratory, the company is investigating
a process to streamline production of lithium hydroxide, which is
principally used in EV batteries, from brine resources.
Albemarle's domestic resources
also include the historic 800-acre Kings
Mountain, N.C., lithium site, which is one of the richest
spodumene ore deposits in the world and home to the company's
global lithium technical center and piloting operations, as well as
lithium-containing brines in Arkansas.
About Albemarle
Albemarle Corporation (NYSE:
ALB), headquartered in Charlotte,
N.C., is a global specialty chemicals company with leading
positions in lithium, bromine and refining catalysts. We think
beyond business-as-usual to power the potential of companies in
many of the world's largest and most critical industries, such as
energy, electronics, and transportation. We actively pursue a
sustainable approach to managing our diverse global footprint of
world-class resources. In conjunction with our highly experienced
and talented global teams, our deep-seated values, and our
collaborative customer relationships, we create value-added and
performance-based solutions that enable a safer and more
sustainable future.
We regularly post information to www.albemarle.com, including
notification of events, news, financial performance, investor
presentations and webcasts, non-GAAP reconciliations, SEC filings
and other information regarding our company, its businesses and the
markets it serves.
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SOURCE Albemarle Corporation