Compass Minerals Reenters Lithium With $400 Million EnergyX Great Salt Lake Deal
Updated
Updated · Reuters · May 18
Compass Minerals Reenters Lithium With $400 Million EnergyX Great Salt Lake Deal
4 articles · Updated · Reuters · May 18
Compass Minerals signed a memorandum of understanding with EnergyX to restart lithium extraction at Utah's Great Salt Lake, marking its return to the battery-metals market.
EnergyX would invest more than $400 million and deploy direct lithium extraction technology to filter lithium from the hypersaline lake if the agreement is finalized.
The Great Salt Lake is estimated to hold more than 2.4 million metric tons of lithium, giving the project a potentially significant U.S. resource base.
Rising lithium prices and a broader push to expand domestic critical-mineral supply are driving the move; EnergyX is backed by General Motors.
With China dominating the lithium market, can this Utah project truly shift global power and secure America's energy future?
Can a new 'miracle' technology extract lithium from the Great Salt Lake without harming its fragile ecosystem?
Project Powder Hound: Transforming the U.S. Lithium Supply Chain with Direct Extraction from Utah’s Great Salt Lake
Overview
On May 18, 2026, Compass Minerals announced a major return to the lithium market by partnering with EnergyX, a technology startup. This partnership, formalized by a memorandum of understanding, will see EnergyX invest over $400 million to extract lithium from Utah’s Great Salt Lake. The project comes at a crucial time, as lithium prices are rising and there is a strong national push to boost domestic U.S. lithium production to secure critical mineral supplies. The collaboration will use EnergyX’s advanced direct lithium extraction technology, aiming for efficient and environmentally friendly lithium production to support the growing demand for electric vehicles.