Tech
How Lithium Producer Albemarle Took Over The EV Industry
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 by 2030, 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.
“We need to get the green stuff out and that will produce what’s called a spodumene concentrate,” said Matthew Hastings, group geologist for Albemarle. “That concentrate will run about 6% lithium oxide, so the intent there is to produce that concentrate, that will be what we give to conversion facilities.”
That concentrate will likely end up in Albemarle’s soon to be built $1.3 billion processing facility in South Carolina where it is turned into battery-grade lithium hydroxide. The plant will support the manufacturing of 2.4 million electric vehicles annually and be able to process lithium from recycled batteries.
But despite that growth Albemarle faces a number of potential headwinds including a possible economic downturn that could slow the demand for EV’s, new battery chemistries that could reduce the need for lithium, battery recycling and additional competitors. Tesla began construction of a lithium refinery in Texas in 2023.
To better understand how lithium, known as “White Gold”, is extracted, the challenges involved and where production is moving to next, CNBC got a behind the scenes look at Albemarle’s operations in Chile and the U.S. Watch the video to learn more.
Chapters:
00:00 — Introduction
02:56 — History
05:55 — Chile
08:42 — Domestic production
11:46 — The future
Produced and Shot by: Shawn Baldwin
Edited by: Nic Henry
Supervising Producer: Jeniece Pettitt
Additional Camera: Katie Brigham, Magdalena Petrova
Graphics: Christina Locopo
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Taylor Farms has been linked to cyclosporiasis and salmonella outbreaks this summer. After years of consolidation, experts say the company’s ability to control every stage of the supply chain has made it indispensable to grocers and restaurant chains, while raising the stakes for consumers when things go wrong. CNBC food and wellness reporter Brandon Gomez explains how the U.S. became so reliant on Taylor Farms.
Chapters:
0:00 Introduction
1:40 Chapter 1: Concentration of risk
6:35 Chapter 2: Food giants’ reliance on Taylor Farms
7:30 Chapter 3: Does America have a better option?
CREDITS:
Reporting by: Brandon Gomez
Produced by: Ryan Baker
Edited by: Darren Geeter, Andrea Miller
Camera and Additional Reporting: Natalie Rice
Animation by: Jason Reginato, Emily Park
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images
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How The U.S Became So Dependent On Taylor Farms
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@jesicaibanez4900
December 18, 2023 at 2:21 pm
What is missed is that this is still the process of extraction of natural resources! This still doesn't solve the climate crisis and it's not a sustainable solution! It is temporary and the harm and risks that it brings is possible drinking water contamination, fossil fuel use to big machinery used here, and these batteries do not last a lifetime. So a continuous cycle of resources waste is left. If corporations focused on doing the right thing, they wouldn't be concerned about bringing revenue instead they would understand that in order to save humanity from human caused climate change catastrophes they would remove themselves from the process of extracting natural resources and improve on their creation to give back to mother Earth and not just take and take.
@charlesball1308
December 18, 2023 at 2:21 pm
Wake up! this is lies!
@frankcoffey
December 18, 2023 at 2:21 pm
Better hurry if you want to make money with lithium. At some point batteries won't need lithium but I think there will be some demand for at 10 years.
@stanmitchell3375
December 18, 2023 at 2:21 pm
One world lithium/matter green claims to have separation tech,simple,no solvent ex for co2
@billymathes4648
December 18, 2023 at 2:21 pm
What a joke
@user-to2gh7sg3l
December 18, 2023 at 2:21 pm
If the companies' name rolls off the tongue like that… I think we all know is projection..
@user-yv4gg7jb2f
December 18, 2023 at 2:21 pm
Well guess soon there are alternatives to lithium
@TheRoon4660
December 18, 2023 at 2:21 pm
Does CNBC ever get anything right? Fake news really makes me wonder.
@rainbows-r-us109
December 18, 2023 at 2:21 pm
My Dad took lithium for his bipolar. Now I'm investing in lithium.
@bwz7275
December 18, 2023 at 2:21 pm
I love how they act like that much. Brine is naturally occurring and cannot be used otherwise.all man made to extract lithium
@mehditarabi4709
December 18, 2023 at 2:21 pm
Why alb is dropping 🤔
@johnberry7662
December 18, 2023 at 2:21 pm
Let’s create toxic wastelands for profit and call it green! 🙄
@petebusch9069
December 18, 2023 at 2:21 pm
So, its ok to ruin the Earth extracting lithium but not oil?? Its amazing how stupid people are generally speaking.
@boxicool
December 18, 2023 at 2:21 pm
EV with current technology it is ECO NONSENSE!
@stevehan8157
December 18, 2023 at 2:21 pm
Seems like a strong buy for investors now. Price has dropped alot with reduced inflation.
@andyjohnson3790
December 18, 2023 at 2:21 pm
And they have in invested about $200 million in the world wide leader of Lithium battery recycling company Li-Cycle.
Recycle EVERYTHING possible ♻️🌳🌎🌲🌍♻️
@jamesspicer538
December 18, 2023 at 2:21 pm
Albemarle needs to up its bid for AXS:LTR to at least $6 a share or it’s going to miss out on securing that supply
@Chris-zs7no
December 18, 2023 at 2:21 pm
Look at what the cobalt stuff does to the Republic of congo. This stuff is VERY TOXIC
@MariAmmaSar
December 18, 2023 at 2:21 pm
Chilean Govt is a brutal US backed junta ever since the overthrow of democratically elected Allende, and notorious for its relations with native Mapuche and other communities. That tells you a lot about Ablemarle's presence in Chile.
@10-OSwords
December 18, 2023 at 2:21 pm
I'm still voting for hydrogen cars (which can be produced in may ways including from renewable energy & as a biproduct of nuclear-which we also need to invest in) because there ain't an electrical grid in the world that can handle an all EV fleet of cars-it would be non stop blackouts. But investing in busses, subways, light rails & affordable public ride shares is the real way to decrease pollution by getting rid of more private car ownership.
@prollejazz
December 18, 2023 at 2:21 pm
I bought ALB at $80 .. And in 2022 and early 2023, I have been buying Joby aviation. Buy Future, not meme!
@Wordsofwisdom..
December 18, 2023 at 2:21 pm
It causes same damage to the environment as same the petrol bikes does
@KILLKING110
December 18, 2023 at 2:21 pm
All that water is pumped out of the ground lowering the water table for communities that rely on that water that means no more water and communities being forced to disband to get to new water sources which are also becoming endangered.
@Mark-em5zm
December 18, 2023 at 2:21 pm
Let me point out one very dangerous thought in this video. The professor at the 2:30 mark is calling for socialist ideology to control the carbon emissions. She stated, “not every family needs to have a big car or multiple cars. We just need to change the habits of consumers to reduce global emissions.”
I’ll give up my two cars when the politicians give up their private jets, multiple houses, multiple cars and live like the average American.
@travisalejandro6690
December 18, 2023 at 2:21 pm
The whole EV industry is a western-made scam, since they CANNOT even produce clean electricity that power the battery in the first place.
@jerrylmartinez3339
December 18, 2023 at 2:21 pm
What is so great about it? What do you do with all the old electric car batteries and all other lithium batteries, where do you expect to put all that toxic mess?
@phillyphil1513
December 18, 2023 at 2:21 pm
CNBC <— The Lithium Authority (2 videos on Li in the same week).
@baneletwayi8036
December 18, 2023 at 2:21 pm
How convenient that Tesla and others Exploitation of the Congo and Zimbabwe are not included in this episode – white washing the true cost of these new products.
@kendallkahl8725
December 18, 2023 at 2:21 pm
Somewhere there is a guy cussing out the Lithium miners for ruining his favorite fishing hole.
@ws1814
December 18, 2023 at 2:21 pm
Whatever the form of batteries we make, it’s just a method to store energy. The energy to be stored there has to created by some method and nuclear is the cleanest of them all.
@MrGriff305
December 18, 2023 at 2:21 pm
And still people are terrified of the stock.
@adamutah8517
December 18, 2023 at 2:21 pm
EL- Tahdam Exploration on a great lithium project check them out
@pgdog888
December 18, 2023 at 2:21 pm
This is old tech now. America battery tech is at least a decade behind China. I just read China just came through on another new battery tech. Why u think Tesla opened a new factory in China. For the batteries.
@by9917
December 18, 2023 at 2:21 pm
Look like an ad
@matthewhuszarik4173
December 18, 2023 at 2:21 pm
Those that think people are going to accept the loss of ICEV without an acceptable alternative are beyond naïve. If you want people to accept alternatives to using fossil fuels you need to give them an acceptable comparable alternative. Expecting everyone to only use mass transit is ridiculous.
The only reasonable method I can see of getting people out of personal vehicles is on demand inexpensive driverless taxi system. This is extremely problematic because of when people drive. Everyone drives a few hours in the morning and then again a few hours in the evening. The remaining time of the day the demand would only be a small fraction of the peak. Also the response would have to be acceptable to the majority. Where you can order up a ride and it will be at your door in less than an hour in all cases and less than 15 minutes under most conditions. Is that possible? Even then many people will still want to maintain a private vehicle for emergencies.
@nolanofeast
December 18, 2023 at 2:21 pm
Didn't even discuss direct lithium extraction. This is about as important as fracking is to oil and gas.
@robertprawendowski2850
December 18, 2023 at 2:21 pm
⭐
@yomajo
December 18, 2023 at 2:21 pm
How much Albemarle paid for this stock pump attempt?
@robbank8027
December 18, 2023 at 2:21 pm
So when is asphalt roads going to disappear? Why have this debate if drive on top rivers of crude oil.
@stevenmarxs374
December 18, 2023 at 2:21 pm
This is disgusting. This is far worse for the environment than oil and gas.
@binhtranquoc8777
December 18, 2023 at 2:21 pm
Sodium battery is much better for environment ! Am I right ?
@Kennon959
December 18, 2023 at 2:21 pm
Looking forward to when Iron Phospate goes big and Lithium plays a lesser role