Stardust Power Enhances Construction Team by Adding Ken Pitts
Appointment Announcement: Stardust Power Inc. has appointed Kenneth Pitts as Construction and Subcontracts Director, responsible for overseeing major projects at the Muskogee, Oklahoma refinery, ensuring they are completed safely, on time, and within budget.
Experience and Role: Mr. Pitts brings over 25 years of experience in managing large-scale projects in various sectors, and his leadership is expected to enhance operational excellence as Stardust Power transitions from a development to an operating company.
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Stardust Power Enhances U.S. Lithium Supply Chain Through Partnership with Mandrake Lithium
Stardust Power's Agreement with Mandrake Resources: Stardust Power Inc. has signed a Letter of Intent with Mandrake Resources to secure 7,500 metric tons per annum of lithium chloride from Mandrake's Utah Lithium Project, which will supply Stardust's processing facility in Oklahoma.
Strategic Importance of the Utah Project: The Utah Lithium Project is positioned in a favorable regulatory environment and benefits from established infrastructure, making it a key asset for domestic lithium supply and supporting Stardust Power's vision for an integrated American lithium supply chain.
Long-term Supply Agreement: The agreement spans twelve years with an option for a six-year extension, potentially ensuring a reliable supply of lithium chloride for up to 18 years, which enhances Stardust Power's financing options and reduces development risks.
Advancements in Lithium Production: Stardust Power is progressing with permitting and site preparations for its lithium refinery in Muskogee, Oklahoma, aiming to produce battery-grade lithium carbonate to support the growing North American electric vehicle and energy storage markets.
Stardust Power Meets All Nasdaq Listing Standards
Compliance with Nasdaq: Stardust Power Inc. has received confirmation from Nasdaq that it is in compliance with continued listing requirements, closing a previous non-compliance matter that was set for appeal.
Project Advancements: The company is making significant progress towards a Final Investment Decision for one of America's largest lithium refineries, enhancing its project execution and risk management.
Production Capacity: Stardust Power is developing a lithium processing facility in Muskogee, Oklahoma, with an expected production capacity of up to 50,000 metric tons per annum of battery-grade lithium carbonate.
Sustainability Commitment: The company emphasizes sustainability throughout its operations, aiming to strengthen America's energy security by building resilient supply chains for lithium production.