- Albemarle plans to invest between $30 million and $50 million to double production at the Nevada site by 2025
- The report added that Albemarle said it will also begin a program to evaluate clays and other available Nevada resources for commercial production of the metal
As per a report by Reuters, Albemarle Corp said that it will double production at its lithium facility in Silver Peak, Nevada as a part of the plan to boost supply for the booming EV market. It added that government mandates and rising concerns about climate change have increased demand for EVs and for the ultra-light battery material lithium. It expects its Nevada expansion to help supply the U.S. market.
Invest between $30 million and $50 million
Albemarle plans to invest between $30 million and $50 million to double production at the Nevada site by 2025. It also produces lithium in Chile and Australia added the report.
The report added that Albemarle said it will also begin a program to evaluate clays and other available Nevada resources for commercial production of the metal. Lithium Americas Corp is developing a lithium clay project in Nevada. Tesla Inc has also said it wants to produce lithium from clay said the report.