Compass Minerals confirms successful conversion testing of sustainable lithium brine resource to battery-grade lithium hydroxide
Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, announced the successful, third-party conversion testing of its lithium brine resource into both lithium carbonate and battery-grade lithium hydroxide, representing a significant milestone in its previously announced lithium development project.
The company engaged Veolia Energy, an established technology provider, to conduct lithium chloride to lithium hydroxide conversion testing utilizing a proven, commercially viable conversion process. The company believes this is the first known conversion to battery-grade lithium hydroxide from the sustainable lithium brine resource originating from the Great Salt Lake.
At a concentration of >56.5% lithium hydroxide monohydrate, the conversion sample meets established battery-grade specifications for the U.S. domestic electric vehicle (EV) and energy storage markets.
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Compass Minerals believes this achievement, and the resulting supply it is expected to help enable, is critical for U.S. domestic production of advanced battery materials and support of a growing domestic EV fleet. As previously disclosed, the company expects to enter the market with a battery-grade lithium hydroxide product by 2025.
Kevin S. Crutchfield, president and CEO.
When we first announced the identification of a readily available, 2.4 million ton lithium brine resource, we emphasized that we are evaluating multiple paths forward for development, potential partnerships, and product selection to ensure optimal shareholder value.
“While that work continues, our progress to date puts us firmly on track for market entry with a battery-grade lithium product by 2025.”
“As we continue to assess potential DLE technology partners and commercial opportunities, we remain committed to responsible stewardship of this exciting and sustainable resource. We look forward to providing future updates as we achieve additional milestones in the coming months.”
Compass Minerals also announced that Chris Yandell will be joining the company as head of lithium, effective Nov. 8, 2021. In this senior management role, Yandell will lead the development and implementation and coordinate the strategic direction for the company’s lithium business.
Yandell brings broad-based leadership experience in operations, commercial, supply-chain and strategic planning, having served the last 15 years in varying roles of increasing responsibility with Albemarle Corporation, a global specialty chemicals company and producer of lithium, bromine and Catalyst solutions.
Most recently with Albemarle, he served as chief commercial officer for refining catalysts and previously as vice president of lithium operations. Prior to his time at Albemarle, he served in operations and engineering positions with Praxair, Inc., since acquired by Linde plc, and BASF.
A former non-commissioned officer in the U.S. Marine Corps, Yandell earned a Bachelor of Science in chemical engineering and Master of Business Administration, both from Louisiana State University.
“Chris’ specific lithium development expertise, coupled with his proven operational experience, will make a great addition to our team,” added Crutchfield. “I have no doubt his leadership will help propel our project forward.”
As previously announced, Compass Minerals is targeting an annual production capacity of approximately 20,000 to 25,000 metric tons lithium carbonate equivalent of battery-grade lithium, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake and in varying stages of concentration within the company’s existing ponds at its active Ogden, Utah, solar evaporation site.
The company sustainably manages 160,000 acres of leasehold on the bed of the Great Salt Lake, together with held water rights, 55,000 acres of existing ponds and active mineral extraction permissions.
The company is currently undertaking a formal life cycle assessment of various lithium development scenarios with Minviro Ltd. to help quantify any environmental impacts associated with the project and help identify opportunities to further minimize the project’s environmental footprint.
Compass Minerals Confirms Successful Conversion Testing of Sustainable Lithium Brine Resource to Battery-Grade Lithium Hydroxide, Overland, Park, Kan., October 19, 2021
