Did BlackRock Just Sign a $90 Million Lithium Contract in the exact town that was hardest hit by hurricane in the USA ? :( WTH ?




Recently, there’s been a rumor going around that BlackRock, the massive investment firm, signed a $90 million contract for lithium mining in a town that had just been devastated by a hurricane.

The Facts as of 4/10/2024

There was a $90 million deal related to lithium, but it had nothing to do with BlackRock or any hurricane-affected town. The contract in question involves Albemarle Corporation, a key player in the U.S. lithium market. In September 2023, Albemarle received a $90 million grant from the U.S. Department of Defense to ramp up lithium production at their Kings Mountain, North Carolina facility​

(Albemarle)​(WUNC).


What Happened in Kings Mountain?

Kings Mountain is an old mining site, and Albemarle is restarting operations there to meet the growing demand for lithium, mainly driven by electric vehicles. The mine isn't in a town that was hit by a recent hurricane, and the deal is about supporting domestic lithium production, not disaster recovery.


What About BlackRock?

BlackRock is an investment management firm, not a mining company. While BlackRock might invest in mining or lithium-related companies as part of its portfolio, it had no direct involvement in this particular deal.


This claim seems to mix up a few things—BlackRock’s investments, lithium mining, and a hurricane. But no, BlackRock did not sign a $90 million contract for lithium in a hurricane-hit town. That story simply isn’t true.

Let’s stick to the facts: Albemarle got the deal, the town isn’t recovering from a hurricane, and BlackRock had no direct [repeating the direct]  role here.




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