Albemarle plans to construct a lithium processing facility in the US to cater to the growing demand for electric vehicle batteries, reported Reuters.
The plant is expected to have an annual processing capacity of 100,000t.
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The company plans to build the facility in the southeastern part of the country and within rail access of a port.
Albemarle’s lithium division head Eric Norris said that there has been a significant shift in the last nine months in the country with the announcement of an “unprecedented” number of electric vehicle manufacturing plants.
The company expects the EV manufacturing plants to drive a surge in demand for lithium.
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Speaking at the Fastmarkets Lithium Supply and Battery Raw Materials conference in Phoenix, Arizona, Norris said: “There isn’t enough (lithium) supply yet to supply the ambitions of the US. This (processing plant) will be essential for our success in the future.”
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By GlobalDataCurrently, Albemarle is in talks with vehicle manufacturers on purchasing supply from the facility, Norris added.
Albemarle currently supplies to Tesla and other several major vehicle makers.
By 2030, the company plans to increase its total annual lithium production capacity fivefold to 500,000t by 2030.
The planned facility would feature a similar design to the company’s recently opened processing plant in Kemerton, Western Australia.
However, the US plant is expected to cost lower than Kemerton facility, whose construction grew far above its initial target of $1.2bn, Norris added.
Albemarle intends to fund the facility from its own resources, though it may apply for loans from the US Department of Energy.
The plant would draw lithium supplies from Albemarle’s Kings Mountain mine in North Carolina.
Presently, this mine is mothballed but is likely to reopen as soon as 2027.
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Image: The plant would draw lithium supplies from Albemarle’s Kings Mountain mine in North Carolina. Credit: Darkmoon_Art from Pixabay.
