{"id":759785,"date":"2023-05-22T07:03:19","date_gmt":"2023-05-22T11:03:19","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/"},"modified":"2023-05-22T07:03:19","modified_gmt":"2023-05-22T11:03:19","slug":"compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/","title":{"rendered":"Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate<\/b><\/p>\n<p>OVERLAND PARK, Kan.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nCompass Minerals (NYSE: CMP), a leading global provider of essential minerals, today announced the signing of a binding, multiyear supply agreement to provide Ford Motor Company (Ford; NYSE: F), a global auto manufacturer, with battery-grade lithium carbonate from its Ogden, Utah, lithium brine development project.<\/p>\n<p>\n\u201cWe are excited to formalize a long-term relationship with Ford, one of the most trusted and iconic brands in the automotive industry and a leader in the transition to vehicle electrification,\u201d said Kevin S. Crutchfield, president and CEO. \u201cWe look forward to building an alliance that will support Ford\u2019s electric vehicle strategy by providing a reliable, domestic lithium supply.\u201d<\/p>\n<p>\nUnder the agreement, Compass Minerals will deliver up to 40% of its planned, phase-one battery-grade lithium carbonate to Ford for a five-year term once production begins.<\/p>\n<p>\nAs previously announced, the company expects an annual commercial production capacity of approximately 35 kMT lithium carbonate equivalent (LCE) once fully operational, with an initial phase-one capacity of approximately 11 kMT battery-grade lithium carbonate coming online in 2025.<\/p>\n<p>\n\u201cThis is an exciting period of innovation and growth for EVs,\u201d said Lisa Drake, Ford\u2019s vice president of EV Industrialization, Model e. \u201cThe work we are doing with Compass Minerals is promising \u2013 and a key part of Ford\u2019s EV growth and the diversification of our sustainable EV supply chain.\u201d<\/p>\n<p>\nCompass Minerals is pursuing the sustainable development of an approximately 2.4 mMT LCE resource on the Great Salt Lake, utilizing synergies with its existing sulfate of potash, salt and magnesium chloride production asset. Lithium will be the fourth essential mineral produced from the same unit of brine, bringing additional efficiencies to the operation and value to all stakeholders, including the State of Utah.<\/p>\n<p><b>About Compass Minerals<\/b><\/p>\n<p>\nCompass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature\u2019s challenges for customers and communities. The company\u2019s salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition products help improve the quality and yield of crops, while supporting sustainable agriculture. Additionally, the company is pursuing development of a sustainable lithium brine resource to support the North American battery market and is owner of Fortress North America, a next-generation fire retardant company. Compass Minerals operates 12 production and packaging facilities with nearly 2,000 employees throughout the U.S., Canada and the U.K. Visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.compassminerals.com&amp;esheet=53403839&amp;newsitemid=20230519005431&amp;lan=en-US&amp;anchor=compassminerals.com&amp;index=1&amp;md5=e21799e80e4251da3189b64792fd5829\">compassminerals.com<\/a> for more information about the company and its products.<\/p>\n<p><b>About Ford Motor Company<\/b><\/p>\n<p>\nFord Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company\u2019s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services. The company does that through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough EVs along with embedded software that defines exceptional digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, Ford is pursuing mobility solutions through Ford Next, and provides financial services through Ford Motor Credit Company. Ford employs about 174,000 people worldwide. More information about the company and its products and services is available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fcorporate.ford.com%2F&amp;esheet=53403839&amp;newsitemid=20230519005431&amp;lan=en-US&amp;anchor=corporate.ford.com&amp;index=2&amp;md5=a0f39e8b1ba0449bbb8055d124c49fa8\">corporate.ford.com<\/a>.<\/p>\n<p><b>Forward Looking Statements and Other Disclaimers<\/b><\/p>\n<p>\nThis press release may contain forward-looking statements including, without limitation, statements about the company&#8217;s lithium development project, including its expected production capacity, timing and sustainability. These statements are based on the company\u2019s current expectations and involve risks and uncertainties that could cause the company\u2019s actual results to differ materially. The differences could be caused by a number of factors including those factors identified in the \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d sections of the company\u2019s Transitional and Quarterly Reports on Forms 10-KT and 10-Q, as well as the company\u2019s other SEC filings. The company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by law.<\/p>\n<p>\nThe company has completed an initial assessment to define the lithium resource at Compass Minerals\u2019 existing operations in accordance with applicable SEC regulations, including Subpart 1300. Pursuant to Subpart 1300, mineral resources are not mineral reserves and do not have demonstrated economic viability. The company\u2019s mineral resource estimates, including estimates of the lithium resource, are based on many factors, including assumptions regarding extraction rates and duration of mining operations, and the quality of in-place resources. For example, the process technology for commercial extraction of lithium from brines with low lithium and high impurity (primarily magnesium) is still developing. Accordingly, there is no certainty that all or any part of the lithium mineral resource identified by the company\u2019s initial assessment will be converted into an economically extractable mineral reserve.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230519005431r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230519005431\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230519005431\/en\/<\/a><\/span><\/p>\n<p><b>Media Contact<br \/>\n<\/b><br \/>Rick Axthelm<br \/>\n<br \/>Chief Public Affairs and Sustainability Officer<br \/>\n<br \/>+1.913.344.9198<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:MediaRelations@compassminerals.com\">MediaRelations@compassminerals.com<\/a><\/p>\n<p><b>Investor Contact<br \/>\n<\/b><br \/>Brent Collins<br \/>\n<br \/>Vice President, Investor Relations<br \/>\n<br \/>+1.913.344.9111<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:InvestorRelations@compassminerals.com\">InvestorRelations@compassminerals.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Kansas United States North America Canada<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Alternative Vehicles\/Fuels Technology EV\/Electric Vehicles Automotive Chemicals\/Plastics Automotive Manufacturing Manufacturing Mining\/Minerals Batteries Natural Resources<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230519005431\/en\/1362408\/3\/CMP_LogoTM_CyanBlue.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate OVERLAND PARK, Kan.&#8211;(BUSINESS WIRE)&#8211; Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today announced the signing of a binding, multiyear supply agreement to provide Ford Motor Company (Ford; NYSE: F), a global auto manufacturer, with battery-grade lithium carbonate from its Ogden, Utah, lithium brine development project. \u201cWe are excited to formalize a long-term relationship with Ford, one of the most trusted and iconic brands in the automotive industry and a leader in the transition to vehicle electrification,\u201d said Kevin S. Crutchfield, president and CEO. \u201cWe look forward to building an alliance that will support Ford\u2019s electric vehicle strategy by providing a reliable, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-759785","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate OVERLAND PARK, Kan.&#8211;(BUSINESS WIRE)&#8211; Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today announced the signing of a binding, multiyear supply agreement to provide Ford Motor Company (Ford; NYSE: F), a global auto manufacturer, with battery-grade lithium carbonate from its Ogden, Utah, lithium brine development project. \u201cWe are excited to formalize a long-term relationship with Ford, one of the most trusted and iconic brands in the automotive industry and a leader in the transition to vehicle electrification,\u201d said Kevin S. Crutchfield, president and CEO. \u201cWe look forward to building an alliance that will support Ford\u2019s electric vehicle strategy by providing a reliable, &hellip; Continue reading &quot;Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-22T11:03:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230519005431r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate\",\"datePublished\":\"2023-05-22T11:03:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\\\/\"},\"wordCount\":962,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230519005431r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\\\/\",\"name\":\"Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/","og_locale":"en_US","og_type":"article","og_title":"Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate - Market Newsdesk","og_description":"Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate OVERLAND PARK, Kan.&#8211;(BUSINESS WIRE)&#8211; Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today announced the signing of a binding, multiyear supply agreement to provide Ford Motor Company (Ford; NYSE: F), a global auto manufacturer, with battery-grade lithium carbonate from its Ogden, Utah, lithium brine development project. \u201cWe are excited to formalize a long-term relationship with Ford, one of the most trusted and iconic brands in the automotive industry and a leader in the transition to vehicle electrification,\u201d said Kevin S. Crutchfield, president and CEO. \u201cWe look forward to building an alliance that will support Ford\u2019s electric vehicle strategy by providing a reliable, &hellip; Continue reading \"Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/","og_site_name":"Market Newsdesk","article_published_time":"2023-05-22T11:03:19+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230519005431r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate","datePublished":"2023-05-22T11:03:19+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/"},"wordCount":962,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230519005431r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/compass-minerals-signs-binding-multiyear-agreement-to-supply-ford-motor-company-with-battery-grade-lithium-carbonate\/","name":"Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate - 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