“We are dedicated to growing responsibly as we closely partner with our customers to make the world safer, more sustainable, and environmentally sound.”
– Kent Masters, Chairman and CEO
We will tell you what we know, what we don’t know, and what we’re working to find out.
We are committed to doing things the right way which means encouraging dialogue among all stakeholders and including all voices and views in the process.
We are considering a potential restart of production from the Kings Mountain spodumene mineral resource. We currently are working to collect the detailed environmental baseline data across the site to support environmental impact assessments that will be required for the permitting process.
We are starting a prefeasibility study to collect geological information for the engineering assessment and to evaluate resource development opportunities. The study will also include an evaluation of environmental, biological, and social impacts required by the National Environmental Protection Act (NEPA). This work is expected to take several years.
Once complete, if we decide to proceed, key permit applications will be submitted to federal, state, and county agencies. Permit timelines of mining projects vary widely depending on community, site sensitivities, etc. Depending on the permitting timeline, we estimate that initial construction could start in late 2025 with potential production in 2027 (or by end of the decade), again if we decide to proceed with the project.
Lithium is one of the world’s most important minerals. It helps power our lives as a building block for modern battery technology enabling electrification, clean energy and sustainable transportation, in particular electric vehicles.
In 2021, global EV production nearly doubled to more than 6 million vehicles from 3 million in 2020. By the end of the decade, EVs are expected to account for close to 40% of automotive sales. Some automakers have announced they will only produce EVs beginning in the middle of the next decade. Beyond 2025, we anticipate continued growth to double with lithium demand of more than 3 million tons by 2030. So we are investing in our current resources to meet the surging demand ahead. But we want to do this right and believe it is important for you to be an integral part of our sustainability journey. That’s why we are engaging with the community as early as possible.
The environmental impacts of the project will be thoroughly assessed during both the prefeasibility assessments and permitting processes. The prefeasibility assessment will include evaluation of multiple development options and each of their potential environmental impacts. Albemarle will only pursue a development option that provides the least environmentally damaging, but practicable, alternative as required by the National Environmental Protection Act (NEPA) process.
Kings Mountain has a world-class resource and could play a critical role in establishing U.S. leadership in the electric vehicle evolution. As global demand for the EV grows in North America, our customers are seeking greater security from geopolitical risk and sustainability, including reduced carbon emissions, in their supply chains. Building out the U.S. supply chain, including possibly Kings Mountain, is one way to help our customers and our country be more successful.
You will see regular updates online (via a dedicated project website) and via regular community town halls (quarterly), as well as a local office and dedicated community liaison, so you are informed about any prospective plans. We look forward to community feedback and dialogue and appreciate your support to make our growth plan here a reality.
Advancing sustainability is a key pillar in our corporate strategy. Learn more about the actions and steps we’ve taken to deepen our commitment to this important work.
Each year our commitment to environmental performance has grown. We consistently challenge our team’s expertise and ingenuity to adapt how we work for the betterment of the environment.
What's next?
We are committed to building an inclusive and diverse workplace. We promote collaboration and engage in the communities where we work and live.
What's Next?
We foster the conditions that create sustainable, long-term value for our shareholders and stakeholders.
What's next?
The IRMA standard offers the only third-party certification of industrial-scale mine sites for all mined materials that is governed equitably by the private sector, local communities, civil society, and workers.
We encourage questions and wonder. We seek continuous learning, improvement and innovation.
We value safety and the well-being of each other. We help make our communities better. We are stewards of the environment.
We are comfortable being vulnerable. We are willing to take informed and shared risks, but not shortcuts.
We share the credit and value the ideas of others – it’s not about me. We value diversity of thoughts, experiences and cultures.
We are our word. We do what we say. We communicate and act transparently. What you see is what you get.
We believe two are better than one when two act as one. We are empowered to perform our jobs and are accountable for the result.
At Albemarle, our Core Values matter. They are at the heart of everything we do. How well do you think we are living up to our values?
