The Department of Defense and chemical manufacturing company Albemarle have inked a $90 million agreement to expand domestic lithium mining and production and support the U.S. battery supply chain.
Albemarle plans to reopen its lithium mine in Kings Mountain, North Carolina, and make it operational between 2025 and 2030, DOD said Tuesday.
The company will have the support of the Office of the Assistant Secretary for Industrial Base Policy through its Manufacturing Capability Expansion and Investment Prioritization office. The partnership reflects MCEIP’s five-year investment plan aimed at securing material and mineral supply chains to ensure the availability of essential resources to the defense and commercial sectors.
Commenting on the team-up, MCEIP Director Anthony Di Stasio said, “The agreement with Albemarle demonstrates the DoD’s ongoing commitment to meeting the needs of our warfighter, today and in the future. This investment directly supports President Biden’s April 2022 Presidential Determination for Critical Materials in Large-Capacity Batteries.”
The move is under Defense Production Act Title III authorities and utilizes Inflation Reduction Act funds.