Compass Minerals Announces Suspension of Lithium Project Pending Regulatory Clarity in Utah - Seite 2

As a result, Compass Minerals will be indefinitely suspending any further investment in its lithium project in Utah beyond certain already committed items associated with the early stages of construction of its commercial scale demonstration unit. The company will temporarily redeploy lithium-related personnel where appropriate. Compass Minerals will also leverage this period of time during project suspension to consider potential partners at the project level with an aim of reducing its share of capital costs and lowering execution risk in the event that the project was restarted. Any such partnership would be conditioned on the achievement of an acceptable and predictable regulatory framework in Utah governing the production of lithium salt on the Great Salt Lake.

“Our shareholders can be certain of two things with regard to our lithium development plans,” added Joe Reece, non-executive chairman of the board. “First, our board will only authorize further investment in this project if the evolving regulatory climate in Utah encourages responsible lithium development like we have been pursuing. Second, and equally as important, we are firmly committed to avoiding the use of common equity at the enterprise level to fund our company’s portion of any future investment in the project.”

About Compass Minerals

Compass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for customers and communities. The company’s 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 compassminerals.com for more information about the company and its products.