EXCLUSIVE-Compass Minerals eyes return to lithium market with EnergyX partnership

General Motors Company
Ford Motor Company
Compass Minerals International, Inc.

General Motors Company

GM

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Ford Motor Company

F

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Compass Minerals International, Inc.

CMP

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By Ernest Scheyder

May 18 (Reuters) - Compass Minerals CMP.N plans to jump back into the lithium market by partnering with technology startup EnergyX to extract the battery metal from Utah's Great Salt Lake, a move that comes as prices rise for the critical mineral alongside a broader push to boost U.S. output.

The companies have signed a memorandum of understanding that, if finalized, would see General Motors GM.N-backed EnergyX invest more than $400 million and use its direct lithium extraction (DLE) technology to filter the metal from the hypersaline lake, estimated to contain more than 2.4 million metric tons of lithium.


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