By Ernest Scheyder May 18 (Reuters) – Compass Minerals plans to jump back into the lithium market by partnering with technology startup EnergyX to extract the battery metal from Utah’s Great Salt Lake, a move that comes as prices rise for the critical mineral alongside a broader push to boost U.S. output. The companies have […]
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Exclusive-Compass Minerals eyes return to lithium market with EnergyX partnership
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By Ernest Scheyder
May 18 (Reuters) – Compass Minerals plans to jump back into the lithium market by partnering with technology startup EnergyX to extract the battery metal from Utah’s Great Salt Lake, a move that comes as prices rise for the critical mineral alongside a broader push to boost U.S. output.
The companies have signed a memorandum of understanding that, if finalized, would see General Motors-backed EnergyX invest more than $400 million and use its direct lithium extraction (DLE) technology to filter the metal from the hypersaline lake, estimated to contain more than 2.4 million metric tons of lithium.
(Reporting by Ernest Scheyder, Editing by Veronica Brown )