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Released May 10, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Albemarle Corporation (NYSE:ALB) (Charlotte, North Carolina) said Wednesday it signed an agreement to "make beneficial use of extracted limestone material" from the company's proposed Kings Mountain Mine restart project in North Carolina. Industrial Info is tracking $7.5 billion worth of active and planned projects from Albemarle, $2.4 billion of which is in the U.S.
Under the agreement, Albemarle would deliver limestone material from the Kings Mountain lithium mine, where the company aims to resume operations, to North Carolina-based building-material supplier Martin Marietta Materials (NYSE:MLM) (Raleigh). In a related press release, Albemarle said it is "preparing permits for submittal to regulatory agencies and undergoing studies and social impact assessments to determine the feasibility of reopening the mine." The company did not announce a planned kickoff or completion date for the proposed $250 million restart project, but Industrial Info is tracking a tentative kickoff date of April 2025.
Albemarle recently said, when operational, the 2.7 million-ton-per-year open-pit lithium-mining operation has the potential to produce approximately 420,000 tons of spodumene concentrate per year--which would be further processed at an existing, on-site lithium-hydroxide conversion plant. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant database can click here to read the related project report and here for the mine profile.
Martin Marietta Materials, which supplies building materials such as aggregate, cement, ready-mixed concrete and asphalt, would offtake the mine's limestone material to be processed and sold at an adjacent quarry "as construction aggregate for use in infrastructure, nonresidential and residential construction projects."
Among Albemarle's other efforts in the U.S. is the current early-stage development of a lithium hydroxide "Mega-Flex" facility in Chester County, South Carolina. The complex is designed to process diverse lithium feedstock, including lithium from recycled materials, into 50,000 tons per year of battery-grade lithium hydroxide from multiple sources, with the potential to expand up to 100,000 metric tons. Subscribers can read more information on the proposed plant and its possible expansion.
The facility would source spodumene concentrate from the Kings Mountain mine, as well as lithium brine resources from its Silverpeak mine in Nevada--the only U.S.-based mine currently producing lithium. Albemarle and engineering, procurement and construction (EPC) contractor Fluor Corporation (NYSE:FLR) (Irving, Texas) are in the middle of an expansion aimed at increasing the processing plant's yearly lithium-carbonate production capacity. Subscribers can click here for the Silverpeak project report and here for more information on the plant.
In a recent first-quarter earnings-related press release, Albemarle said it expects capital expenditures (capex) for fiscal-year 2024 to be between $1.6 billion and $1.8 billion--down from $2.1 billion in fiscal-year 2023. "This level of spending reflects a re-phasing of larger projects to focus on those that are significantly progressed, near completion and in startup," the company said.
While the company has plenty of ongoing and planned activity in the U.S., an earnings-related presentation noted 2024 capex includes international projects, specifically, among others, the construction of its Kemerton Lithium Hydroxide Processing plant in Bunbury, Western Australia. In an earnings-related conference call, Chief Executive Officer Kent Masters said the plant's first two processing trains are "in start-up, ramp and qualification phases," while construction on Train 3 is underway. The latter project has a total investment value of US$1.6 billion (AUD$2.4 billion). Albemarle initially planned to construct a fourth train, but the recent presentation noted that the project now is on hold.
Subscribers can read project reports for trains 1 and 2, which are in the commissioning phase, as well as Train 3.
Subscribers can click here for a full list of active and planned projects from Albemarle.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Under the agreement, Albemarle would deliver limestone material from the Kings Mountain lithium mine, where the company aims to resume operations, to North Carolina-based building-material supplier Martin Marietta Materials (NYSE:MLM) (Raleigh). In a related press release, Albemarle said it is "preparing permits for submittal to regulatory agencies and undergoing studies and social impact assessments to determine the feasibility of reopening the mine." The company did not announce a planned kickoff or completion date for the proposed $250 million restart project, but Industrial Info is tracking a tentative kickoff date of April 2025.
Albemarle recently said, when operational, the 2.7 million-ton-per-year open-pit lithium-mining operation has the potential to produce approximately 420,000 tons of spodumene concentrate per year--which would be further processed at an existing, on-site lithium-hydroxide conversion plant. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant database can click here to read the related project report and here for the mine profile.
Martin Marietta Materials, which supplies building materials such as aggregate, cement, ready-mixed concrete and asphalt, would offtake the mine's limestone material to be processed and sold at an adjacent quarry "as construction aggregate for use in infrastructure, nonresidential and residential construction projects."
Among Albemarle's other efforts in the U.S. is the current early-stage development of a lithium hydroxide "Mega-Flex" facility in Chester County, South Carolina. The complex is designed to process diverse lithium feedstock, including lithium from recycled materials, into 50,000 tons per year of battery-grade lithium hydroxide from multiple sources, with the potential to expand up to 100,000 metric tons. Subscribers can read more information on the proposed plant and its possible expansion.
The facility would source spodumene concentrate from the Kings Mountain mine, as well as lithium brine resources from its Silverpeak mine in Nevada--the only U.S.-based mine currently producing lithium. Albemarle and engineering, procurement and construction (EPC) contractor Fluor Corporation (NYSE:FLR) (Irving, Texas) are in the middle of an expansion aimed at increasing the processing plant's yearly lithium-carbonate production capacity. Subscribers can click here for the Silverpeak project report and here for more information on the plant.
In a recent first-quarter earnings-related press release, Albemarle said it expects capital expenditures (capex) for fiscal-year 2024 to be between $1.6 billion and $1.8 billion--down from $2.1 billion in fiscal-year 2023. "This level of spending reflects a re-phasing of larger projects to focus on those that are significantly progressed, near completion and in startup," the company said.
While the company has plenty of ongoing and planned activity in the U.S., an earnings-related presentation noted 2024 capex includes international projects, specifically, among others, the construction of its Kemerton Lithium Hydroxide Processing plant in Bunbury, Western Australia. In an earnings-related conference call, Chief Executive Officer Kent Masters said the plant's first two processing trains are "in start-up, ramp and qualification phases," while construction on Train 3 is underway. The latter project has a total investment value of US$1.6 billion (AUD$2.4 billion). Albemarle initially planned to construct a fourth train, but the recent presentation noted that the project now is on hold.
Subscribers can read project reports for trains 1 and 2, which are in the commissioning phase, as well as Train 3.
Subscribers can click here for a full list of active and planned projects from Albemarle.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
