Starting from this year, Albemarle intends to invest $30m to $50m to ‘double’ the current lithium production at the mine by 2025. Credit: Alex Banner from Pixabay.

US company Albemarle has announced that it will expand capacity at its lithium production facility at Silver Peak, in the US state of Nevada.

The latest move comes as demand for the ultralight battery metal is expected to increase as automobile companies across the world are racing towards producing more electric vehicles (EVs).

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Lithium is a critical mineral and major component in advancing green mobility as well as more sustainable future.

Starting from this year, Albemarle intends to invest between $30m to $50m to double the current lithium production at the mine by 2025.

The company will also begin a programme to evaluate clay resources and other available resources in Nevada for commercial production of lithium.

Albemarle Lithium president Eric Norris said: “As a leader in the lithium industry, our priority is to optimise our world-class resources and production. This includes Silver Peak, a site uniquely positioned as the only lithium-producing resource in the United States.

“This investment in domestic capacity shows that we are committed to looking at the many ways in which Silver Peak can provide domestic support for the growing EV market.”

Albemarle also said that it is seeking ways to ‘optimise lithium extraction’ from its brine resources extracted from the Clayton Valley basin.

The US company also produces lithium in Chile and Australia.

In May last year, Albemarle expressed interest in acquiring all or part of Chinese manufacturing firm Tianqi Lithium’s controlling stake in Australia’s Greenbushes lithium mine.