Compass Minerals International Inc (CMP) Quote - XNYS | Morningstar

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Maintaining $85 FVE as Compass Minerals Announces Successful Lithium Conversion Testing

Senior Equity Analyst Seth Goldstein

Seth Goldstein, CFA Senior Equity Analyst

Analyst Note

| Seth Goldstein, CFA | Oct 19, 2021

On Oct. 19, Compass Minerals announced the successful testing of lithium production at its Ogden, Utah, resource. Compass hired a third party to test the conversion of the lithium chloride produced from its brine ponds to lithium hydroxide, which is a lithium chemical used in electric vehicle batteries. The test resulted in lithium hydroxide production at a purity level that would meet battery quality specifications.

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Company Profile

Business Description

Compass Minerals produces two primary products: salt and specialty fertilizers. The company's main assets include rock salt mines in Ontario, Louisiana, and the United Kingdom and salt brine operations at the Great Salt Lake in Utah. Compass' salt products are used for deicing and also by industrial and consumer end markets. The firm also sells sulfate of potash, which is used by growers of high-value crops that are sensitive to standard potash.

Contact

9900 West 109th Street, Suite 100
Overland Park, KS, 66210

T +1 913 344-9200

InvestorRelations@compassminerals.com

www.compassminerals.com

Sector Basic Materials

Industry Other Industrial Metals & Mining

Most Recent Earnings Jun 30, 2021

Fiscal Year End Dec 31, 2021

Stock Type High Yield

Employees 3,229

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