Stardust Power (NASDAQ: SDST), an American designer of battery-grade lithium items, formally began today on its $1.2 billion refinery at the Southside Industrial Park in Muskogee, Oklahoma.
The event was hung on Jan. 22, with elderly authorities from Stardust Power, Lieutenant Guv Matt Pinnell, and the Mayor of Muskogee, Patrick Cale, present. Various other state and regional authorities were additionally existing.
Stardust Power obtained its 66-acre (around 267,000 square metres) website situated near the Port of Muskogee in December 2024. It adheres to an independent ecological evaluation in 2023 that identified this residential or commercial property is well fit for the building of a lithium refinery.
The shovel-ready remains in closeness to the nation’s biggest inland river system and durable roadway and rail networks
According to the firm, the shovel-ready website take advantage of several building and functional benefits, such as closeness to the nation’s biggest inland river system, durable roadway and rail networks, and accessibility to a knowledgeable labor force rooted in the oil and gas field.
The website additionally uses the capacity for future development, as it lies alongside a 40-acre parcel which the firm has a right of initial rejection on.
Stardust Power chief executive officer Roshan Pujari claimed the lithium refinery– which would certainly be the biggest of its kind in America– “will certainly be vital for dealing with United States nationwide safety and supply chain threats.”
” By onshoring essential mineral production, we are assisting to suffer America’s power management. With the land gotten and required building allows safeguarded in 2024, we are delighted to begin and start building.”
” Stardust Power’s choice to begin on its lithium refinery in Muskogee is a substantial progression for Oklahoma’s function in strengthening our essential mineral supply chains and strengthening nationwide safety,” included Lieutenant Guv Pinnell.
The job will certainly be created in 2 stages, with the initial stage concentrated on building an assembly line with the ability of creating approximately 25,000 tonnes per year. The 2nd stage will certainly include a 2nd assembly line, bringing the complete capability to 50,000 tonnes.
Stardust Power’s supply dropped almost 28% to $1.40 by 1:50 p.m. in New york city, having actually struck a 52-week low of $1.30 earlier. The firm– which has a market capitalization of $67 million– decreased to discuss its share cost activity Thursday.
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