OIL - ALBEMARLE AND CATERPILLAR COLLABORATE TO PIONEER SUSTAINABLE MINING TECHNOLOGIES AND OPERATIONS | Benzinga
Arrangement includes a collaboration agreement for deployment of Cat battery-electric trucks and site energy transfer solutions, a lithium offtake framework agreement, and an agreement to explore potential opportunities to collaborate on research into battery technology
CHARLOTTE, N.C., Sept. 27, 2023 /PRNewswire/ -- Albemarle Corporation (NYSE:ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, signed agreements today with Caterpillar Inc. (NYSE:CAT) to collaborate on solutions to support the full circular battery value chain and sustainable mining operations.
The collaboration aims to support Albemarle's efforts to establish Kings Mountain, N.C. as the first-ever zero-emissions lithium mine site in North America. These efforts include utilization of next-generation, battery-powered mining equipment. Caterpillar and Albemarle signed an agreement making Albemarle's North American-produced lithium available for use in Caterpillar battery production. The two companies will also explore opportunities to collaborate on research and development of battery cell technology and recycling techniques.
"At Albemarle, we are committed to building a more resilient world. Our partners are critical to achieving that impact, and this collaboration with Caterpillar exhibits how we 'walk the talk' to pioneer what's next. It's a win-win-win scenario, in which we are both customers and suppliers of each other, and the innovation we pursue together benefits the world," said Eric Norris, Albemarle's Energy Storage President.
"Beyond supplying infrastructure and materials, battery-powered Caterpillar machinery and potential improvements to cell technology will open up new possibilities for the future of sustainable mining," said Norris. "We look forward to replicating at Kings Mountain the same progress that we have made toward social and environmental responsibility at our Salar de Atacama operation, where we became the first lithium producer in the world to complete a third-party audit and publish our report through the Initiative for Responsible Mining Assurance's ...