Albemarle Receives $90M Critical Materials Award From The U.S. Department Of Defense To Boost U.S. Lithium Production
Portfolio Pulse from Benzinga Newsdesk
Albemarle Corporation has received a $90 million award from the U.S. Department of Defense to boost U.S. lithium production. The funding will support the restart of the company's Kings Mountain mine in North Carolina and increase domestic processing of critical materials for the nation's battery supply chain.
September 12, 2023 | 1:59 pm
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Albemarle Corporation's stock may see a positive impact due to the $90 million award from the U.S. Department of Defense to boost U.S. lithium production.
The $90 million award from the U.S. Department of Defense will boost Albemarle Corporation's lithium production, which is a key component in batteries. This could increase the company's revenues and profitability, potentially leading to a positive impact on the company's stock price.
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