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Lithium Race: Compass Minerals Eyes Great Salt Lake
18 May
Summary
- Compass Minerals plans lithium market return via Great Salt Lake.
- EnergyX to invest over $400 million using advanced DLE technology.
- Great Salt Lake estimated to contain over 2.4 million metric tons lithium.
Compass Minerals is preparing to re-enter the lithium market, leveraging the resources of Utah's Great Salt Lake. The company has entered into a memorandum of understanding with EnergyX, a technology startup. This partnership is expected to significantly boost U.S. production of the vital battery metal.
EnergyX, which has received backing from General Motors, is slated to invest upwards of $400 million. The technology firm will deploy its proprietary direct lithium extraction (DLE) technology. This method is designed to efficiently filter lithium from the hypersaline waters of the lake. The Great Salt Lake is estimated to hold a substantial reserve of over 2.4 million metric tons of lithium, positioning this venture as a key contributor to domestic supply.
