Albemarle Corp stated it experienced picked out Chester County, South Carolina, as the location for a $1.3 billion lithium processing plant it hopes will cement its standing as a cornerstone of the speedily increasing U.S. electric car field.
The facility, which was very first announced past yr without a certain locale, will double the company’s lithium processing capacity and consequently its potential to provide essential buyers – which include Tesla Inc – who are hungry for extra North American materials of the battery metallic.
Previously the world’s premier lithium producer with important amenities in Chile, China and Australia, Albemarle has moved aggressively to increase in the United States, which it sees as its next main spot of expansion many thanks to tax credits and other incentives available by the U.S. Inflation Reduction Act.
The South Carolina plant will be capable to system 50,000 tons of lithium each yr from rock Albemarle programs to mine in North Carolina as very well as from recycled batteries. That is around adequate of the white metallic to make 2.4 EVs annually.
“This facility will help raise the production of U.S.-based mostly lithium resources to gasoline the thoroughly clean electrical power revolution whilst bringing us closer to our clients as the supply chain is developed out in North The us,” Albemarle Chief Executive Kent Masters mentioned in a assertion.
Development of the 800-acre challenge is expected to start off late upcoming yr, although the enterprise did not provide a timeline for when the website will open. The plant really should make use of 300 workers with an normal yearly pay back of $93,000.
The enterprise gained a lithium processing grant last yr from the White Residence. Regardless of the recent softening in lithium rates, Albemarle has stated it expects desire to go on to increase.