Market Chatter: Compass Minerals International Plans Lithium Return via EnergyX Partnership

MT Newswires Live05-18

Compass Minerals International (CMP) said it plans to re-enter the lithium market through a partnership with startup EnergyX to extract lithium from Utah's Great Salt Lake, Reuters report Monday.

Under a memorandum of understanding, EnergyX, backed by General Motors, would invest more than $400 million and deploy direct lithium extraction technology to recover the battery metal from the lake, which is estimated to hold over 2.4 million metric tons of lithium, according to the report.

Compass Minerals International didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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