The deliberate Kings Mountain mine accommodates one of many few recognized hard-rock lithium deposits within the US. The positioning is predicted to feed adequate materials for 50 kilotonnes of lithium carbonate equal (LCE) of conversion capability and assist the manufacturing initially of roughly 1.2 million electrical autos yearly.
As per an settlement signed by the businesses, lithium produced by Albemarle’s North American websites will probably be made out there to be used in Caterpillar’s battery manufacturing. The businesses will even discover alternatives associated to the analysis and improvement of battery cell know-how and recycling methods.
“It’s a win-win-win state of affairs, wherein we’re each prospects and suppliers of one another, and the innovation we pursue collectively advantages the world,” Eric Norris, Albemarle’s Power Storage president, mentioned in Wednesday’s press launch.
“Past supplying infrastructure and supplies, battery-powered Caterpillar equipment and potential enhancements to cell know-how will open up new prospects for the way forward for sustainable mining,” Norris mentioned.
Albemarle mentioned it goals to duplicate the identical progress that it has made towards social and environmental accountability on the Salar de Atacama operation, the place the corporate grew to become the world’s first lithium producer to finish a third-party audit and publish a report by way of the Initiative for Accountable Mining Assurance’s (IRMA) stringent normal.
“Via this collaboration with Caterpillar, Albemarle is creating a brand new pathway the place we are able to make a worldwide impression – exterior of the management we’re recognized for with EVs,” added Anita Natesh, Albemarle’s industrial VP for North America, Europe and India for Power Storage.
“Caterpillar is creating lithium-ion batteries and battery-electric merchandise right now for our prospects around the globe who, like Albemarle, are driving towards web zero carbon emissions objectives,” mentioned Rod Shurman, senior vp of electrification and power options at Caterpillar.
“The agreements for lithium offtake and potential collaboration on R&D signed right now will assist to advance this work and additional construct out a safe, resilient and sustainable worth chain for electrified gear throughout the Caterpillar portfolio, whereas additionally supporting Albemarle’s journey to extra sustainable operations.”
The announcement comes on the heels of Albemarle’s latest award of $90 million from the Division of Protection to assist assist the enlargement of home mining and the manufacturing of lithium for the nation’s battery provide chain.