The Office of the Assistant Secretary for Industrial Base Policy, through its Manufacturing Capability Expansion and Investment Prioritization (MCEIP) office, entered an agreement with Albemarle Corporation to support the expansion of domestic mining and production of lithium.
The $90 million agreement, entered into under Defense Production Act (DPA) Title III authorities and utilizing funds appropriated by the Inflation Reduction Act, will help support Albemarle’s planned re-opening of their Kings Mountain, N.C. lithium mine to increase domestic production of lithium for the nation’s battery supply chain. Albemarle estimates that Kings Mountain will be operational between 2025 and 2030.
