Compass Minerals Inks Multi-year Deal With Ford To Supply Battery-grade Lithium Carbonate

(RTTNews) - Compass Minerals International Inc. (CMP), a producer of minerals, said on Monday that it has inked a multi-year supply deal with Ford Motor Company (F), to provide battery-grade lithium carbonate from its Ogden, Utah, lithium brine development project.

With this, CMP will deliver up to 40 percent of its planned, phase-one battery-grade lithium carbonate to Ford for a five-year term, once production begins.

As announced earlier, CMP expects an annual commercial production of around 35 kMT lithium carbonate equivalent or LCE, once fully operational. The initial phase-one capacity of approximately 11 kMT battery-grade lithium carbonate will come online in 2025.

Compass Minerals added that it is focusing on the development of around 2.4 mMT LCE resource on the Great Salt Lake.