Albemarle Corp

The world contains vast quantities of lithium, an integral element in electric vehicle batteries. And though lithium is commonly mined from hard rock, the majority of the world's lithium reserves are actually found in brine, extremely salty water beneath the Earth's surface.Today, brine mining involves evaporating the brine in massive, extravagantly colored pools over a series of about 18 months, leaving high concentrations of lithium behind. It's a simple but inefficient process that takes up vast swaths of land and is…

Demand for lithium, a key component for electric vehicle batteries, is expected to surge, from 500,000 metric tons of lithium carbonate in 2021 to three to four million metric tons in less than a decade, according to McKinsey & Company.Albemarle, the world's top producer of this critical metal and the operator of mines in Australia, Chile and the U.S., says it plans to bring another domestic lithium mine online by 2027 — Kings Mountain in North Carolina. It already operates Silver Peak in Nevada.related investing…

Ford 's (F) new partnerships with top lithium producers give us more confidence that the automaker can accelerate electric vehicle production and reach its global target of 2 million EVs per year by 2026. We're also encouraged by Ford's financial roadmap for getting there, which was discussed at Monday's investor event. Ahead of its Capital Markets Day presentation, Ford announced strategic agreements with four of the world's prominent producers of lithium, a key component of EV batteries. The deals are all compliant with…

Check out the companies making headlines in midday trading.Seagate Technology — Shares of the data storage company surged more than 10% a day after Seagate posted beats on the top and bottom line for its fiscal second quarter. Seagate reported earnings of 16 cents per share on revenue of $1.89 billion. Analysts called for earnings of 10 cents per share on $1.83 billion in revenue, according to Refinitiv.Chevron – Shares of the energy giant popped 4% a day after the company announced a $75 billion buyback and said that it…

Delta Airlines Embraer ERJ 170-200 flying above Los Angeles International Airport on Oct. 2, 2022 in Los Angeles, California.AaronP/Bauer-Griffin | Gc Images | Getty ImagesCheck out the companies making the biggest moves midday:SoFi Technologies — The fintech stock jumped more than 7% after a filing showed CEO Anthony Noto bought $5 million in common stock. The purchase was done through multiple trades from Friday to Tuesday, the filing said.Charter Communications — Charter Communications dropped more than 13% after CEO…

Check out the companies making headlines in midday trading.Lyft – Shares of Lyft plummeted 21% after the company's earnings report showed mixed results in the last quarter. The rideshare company reported adjusted earnings per share of 10 cents, more than analysts' expectations of 7 cents, but revenue fell short of the Street's forecast, coming in at $1.05 billion versus $1.06 billion expected, per Refinitiv.Tripadvisor – The travel platform dropped 17% after its quarterly earnings came in below expectations.  The company…

SILVER PEAK, NV — On the edge of Western Nevada, hours from a major city and miles down private dirt roads, lies the United States' only lithium-producing plant.The nearest town is Tonopah – population 2,179 – where a prospector discovered silver at the turn of the twentieth century. The town's mining roots are still on display, but the action has shifted to the country's largest lithium brine operation 45 minutes away.Silver Peak has been producing lithium since the 1960s. Specialty chemicals company Albemarle acquired…

Albemarle Corp: "I suggest that you wait for it to come down a little, but I do like the situation very much."Nikola Corp: "I think that stock is lethal, frankly. ... I don't want to own it."Jim Cramer's Guide to InvestingClick here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter. Albemarle Corp: "I suggest that you wait for it to come down a little, but I do like the situation very much."Nikola Corp: "I think that stock is lethal, frankly. ... I don't want…

Piedmont Lithium announced Thursday that it plans to build a new lithium refining plant in Tennessee, as the U.S. rushes to develop domestic supply chains for raw materials critical to the energy transition.Thursday's announcement follows the largest climate funding package in U.S. history, which President Joe Biden signed into law in August. The package includes incentives to jump-start domestic supply chains for electric vehicle batteries, although Piedmont said plans for the plant were in development prior to the…

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