Albemarle Corporation (NYSE: ALB), a leading global provider of essential elements for mobility, energy, connectivity, and health, has submitted several permit applications to state and federal authorities for the potential redevelopment of the Kings Mountain Mine. This mine is recognized as one of the few known hard-rock lithium deposits in the U.S. The project’s advancement is contingent on successful permitting and a final investment decision before construction can begin.
To construct and operate the proposed mine, Albemarle needs to secure various permits and approvals from the City of Kings Mountain, several North Carolina state divisions, and federal agencies. The permit review process will encompass aspects such as water, air, noise, and land use and may take two years or longer, involving extensive agency and stakeholder review.
“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,” stated Erik Carlson, Albemarle’s Senior Permitting and Sustainability Manager. “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 Kings Mountain Mine is expected to produce up to 420,000 tons of lithium-bearing spodumene concentrate annually, which is essential for sustainable transportation and various defense applications. Recognized as a critical material for energy by the U.S. federal government, the mine’s redevelopment has garnered support through $250 million in grants from the Departments of Defense and Energy.
Alongside permit preparation and submission, Albemarle is actively engaging with stakeholders through a comprehensive outreach program. This includes a monthly Community Advisory Panel, periodic town halls and open house events, as well as a Project Center located in downtown Kings Mountain. Earlier this year, Albemarle initiated the public participation phase of a voluntary Environmental and Social Impact Assessment (ESIA), which aims to align the mine’s redevelopment with the Initiative for Responsible Mining Assurance’s Standard for Responsible Mining.
The ESIA is designed to formulate environmental and social management plans that mitigate adverse impacts while maximizing benefits for surrounding communities. Albemarle intends to publish the assessment’s findings and anticipated management strategies for community stakeholders throughout 2024 and 2025.
For more details regarding the ESIA, the permitting process, and the proposed project plan, visit www.albemarlekingsmountain.com.
About Albemarle
Albemarle Corporation (NYSE: ALB) is a global leader in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We collaborate to pioneer innovative solutions with a focus on people and the planet. With a reliable and high-quality global supply of lithium and bromine, we deliver advanced solutions for our customers.
