We currently are assessing the existing site, looking at the geology and other features to gather information needed to determine the extent of the resources and collect the huge volume of data needed for economic and environmental assessments and permitting. The environmental work alone covers more than two dozen data collections and studies. These assessments are expected to take three to four years.
If the decision is made to proceed, the existing pit would be expanded with new extraction activities. This is referred to as a brownfield development (restarting a previously disturbed site). During extraction, the pit is expected to remain within Albemarle property.
Generally speaking, an economically viable mine could have an operating life of potentially 20-30 years.
A mine closure and reclamation plan will be developed as part of the prefeasibility study. This plan will be developed using input from the Kings Mountain community to identify options to repurpose the site after extraction operations are completed. The plan would be regularly updated and refined throughout mining operations.
Generally, repurposing of mine sites may include, but is not limited to, repurposing to support alternative commercial/industrial opportunities (green energy production, municipal landfills, industrial centers, etc.), or repurposing for recreational use (hiking/biking trails, pit lakes (boating), etc.).