Albemarle Receives $90M from DoD to Boost Lithium Production
The planned Kings Mountain mine contains one of the few known hard rock lithium deposits in the U.S. The site is expected to feed sufficient material for 50,000 metric tons per year (mt/y) of lithium carbonate equivalent (LCE) of conversion capacity and support the manufacturing initially of approximately 1.2 million electric vehicles annually.
“As one of the only U.S.-based lithium companies to carry out lithium extraction, processing, and novel lithium battery material research in the United States, Albemarle is uniquely positioned to help power the clean energy revolution,” said Albemarle’s President of Energy Storage, Eric Norris. “Lithium is an essential ingredient in our sustainable energy future. Demand is expected to increase significantly, and it is imperative to secure our nation’s supply of this critical resource.”
Albemarle estimates that Kings Mountain will become operational as early as late 2026, pending permitting. At Kings Mountain, Albemarle is implementing “IRMA-Ready” standards, an operational playbook for mine sites in exploration phase. Initiative for Responsible Mining Assurance (IRMA) standards emphasize environmental stewardship and community engagement.