Albemarle announced that the U.S. Department of Defense has approved a $90M grant to help support the expansion of domestic mining and the production of lithium for the nation’s battery supply chain. The funding will be provided by the Office of the Assistant Secretary of Defense for Industrial Base Policy, utilizing Defense Production Act authorities, and will be used to purchase a fleet of mining equipment as part of the company’s planned reopening of its lithium mine in Kings Mountain, North Carolina. 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 kt LCE of conversion capacity and support the manufacturing initially of approximately 1.2M electric vehicles annually.
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