Compass Minerals has identified around 2.4 million metric tons of lithium carbonate equivalent in the Great Salt Lake. It hopes to tap it to supply the electric vehicle industry and the “quickly expanding” stationary battery market.
Employees at Compass Minerals, formerly Great Salt Lake Minerals Corp., harvest sulfate of potash along the Great Salt Lake near Ogden on Tuesday, Apr. 23, 2013. Sulfate of potash is used in fertilizer and is derived from the water of the Great Salt Lake.
More specifically, Compass Minerals has nonbinding memorandums of understanding with U.S.-based Ford and LG Energy Solution of South Korea to potentially supply the firms with the lithium products starting in 2025. Compass Minerals’has more traditionally been know for its production of fertilizers tapping the minerals of the Great Salt Lake.
“Ford’s new electric vehicle lineup has generated huge enthusiasm and demand, and now we are putting the industrial system in place to scale quickly,” Jim Farley, Ford’s president and chief executive officer, said in a statement. Ford’s electric vehicle division — called the “Model e” team — “has moved with speed, focus and creativity to secure the battery capacity and raw materials we need to deliver breakthrough EVs for millions of customers.
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