Is a mineral extraction company misleading its investors?
to date. About 7,700 acre-feet of treated and raw river water came from the Weber Basin water district’s deliveries, but the vast majority came from water rights Compass owns to pump directly from the Great Salt Lake.
Compass might need more fresh water to flush its processing equipment of corrosive brine, said Brendan Moran,who studies lithium mining from salty surface water and groundwater in arid environments. Or it might use it to clean membranes for a popular new reverse osmosis extraction method. The researcher expressed surprise at the load of lithium Compass claims it will produce from the Great Salt Lake — 11,000 metric tons annually by 2023, and 35,000 metric tons by the time it’s “fully operational,” according to investor news releases.only churns out 5,000 metric tons per year in contrast“And it’s a pretty big operation,” Moran said. “They’re trying to double it to 10,000, but ... it’s taking more time than they thought.
It raises questions about whether the company intends to mine lithium by pumping more brine into its evaporation ponds, or whether it will pull it from the existing Great Slat Lake water used to mine potash, Moran said.Compass calls its lithium process a “sustainable development” that will use “the same unit of brine.”gotten the facts right.
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