Compass Minerals partners with EnergyX to restart lithium extraction at Utah’s Great Salt Lake

Compass Minerals will re-enter the lithium market through a memorandum of understanding with EnergyX, a General Motors‑backed technology startup. EnergyX will invest more than $400 million and apply its direct lithium extraction (DLE) process to draw lithium from the hypersaline waters of Utah’s Great Salt Lake, which is estimated to contain over 2.4 million metric tons of lithium.

The agreement places operational, financial and regulatory risk on EnergyX, which plans to lease equipment and brine access from Compass while returning processed brine to the lake. The partnership aims to begin production by 2030, targeting 10,000 tons of lithium annually in the first phase and up to 20,000 tons in a second phase, generating an estimated $600 million in annual revenue. Compass will retain its core salt and fertilizer businesses and will receive a license fee from EnergyX. The deal aligns with rising lithium prices and U.S. policies encouraging domestic mineral supply.

Compass had previously halted its lithium project in 2023 after new water‑use regulations, taking a $75 million impairment charge. The new collaboration is intended to support lake conservation efforts while strengthening Compass’s balance sheet.