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Compass Minerals International Inc CMP

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

Seth Goldstein, CFA Senior Equity Analyst

Analyst Note

| Seth Goldstein, CFA |

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.

9900 West 109th Street, Suite 100
Overland Park, KS, 66210
T +1 913 344-9200
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