Albemarle Corp.’s commitment to reopening a dormant lithium mine in Kings Mountain hit a key milestone, at the same time the company is cutting costs elsewhere.
The Charlotte-based specialty chemical manufacturer and world’s largest lithium miner is in the early-stage development of reopening the Cleveland County mine, west of Charlotte.
“Kings Mountain just completed a successful drilling campaign with potential for updated resource next year,” Albemarle CEO and chairman Kent Masters said Thursday during a fourth-quarter earnings call. Masters did not specify how much additional spending will go toward Kings Mountain…