News

CHARLOTTE, N.C., September 24, 2024 - Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, has submitted several state and federal permit applications for the potential redevelopment of the Kings Mountain Mine, one of the few known hard-rock lithium deposits in the U.S. Development of the mine is subject to the successful completion of permitting as well as a final investment decision prior to starting construction.

Albemarle must secure a series of permits or approvals from the City of Kings Mountain, several divisions within the State of North Carolina, and the federal government to construct and operate the proposed mine. Covering areas such as water, air, noise and land use, the permit review process is subject to agency timelines that may last two years or more and is expected to include extensive agency and stakeholder review and comment.

"Completing the submission of our primary state and federal permit applications was a key focus area for the project this year and marks a significant milestone in our journey to redevelop one of the best lithium resources in the world,” said Albemarle Senior Permitting and Sustainability Manager Erik Carlson. “We remain steadfast in our efforts to advance this project through the implementation of industry best practices for responsible mining and meeting the high standards required by governmental agencies.”

Once operational, the mine is anticipated to produce up to 420,000 tons of lithium-bearing spodumene concentrate yearly, providing a crucial building block for sustainable transportation and to support key defense applications. Lithium has been identified as a critical material for energy by the U.S. federal government and the mine’s redevelopment is supported by a combined $250 million in grants from the departments of Defense and Energy.

In addition to the preparation and submittal of permit applications, Albemarle continues a comprehensive stakeholder outreach program, sharing details of the project through a monthly Community Advisory Panel, periodic townhall and open house events, and operates a Project Center in downtown Kings Mountain. Earlier this year, Albemarle also commenced the public participation portion of a voluntary Environmental and Social Impact Assessment (ESIA). The assessment is a key element to align the mine’s redevelopment with the Initiative for Responsible Mining Assurance’s Standard for Responsible Mining, the most comprehensive set of globally recognized standards for responsible mining.

The ESIA seeks to develop environmental and social management plans to minimize adverse impacts and enhance benefits for the surrounding communities. Albemarle plans to publish and share the assessment’s findings and anticipated management measures with community stakeholders throughout 2024 and 2025.

More information about the ESIA, permitting process and progress, and the mine’s proposed project plan can be found at www.albemarlekingsmountain.com.