Albemarle, Caterpillar collaborate on batteries, zero-emissions lithium

Albemarle Corp.
ALB,
+0.21%
said Wednesday it was collaborating on battery technology and sustainable lithium-mining practices with heavy-equipment maker Caterpillar Inc.
CAT,
+1.28%
The lithium producer said the agreement calls for the use of Cat battery-electric trucks, and other efforts to establish Kings Mountain, N.C., as the first-ever zero-emissions lithium mine in North America. The agreement also calls for Albemarle’s North American-produced lithium to be “available for use in Caterpillar battery production,” while the companies will collaborate on research and development of battery-cell technology and recycling techniques. Shares of Albemarle were last down 0.3%, while Caterpillar shares were up 0.3%.