11:34 AM EDT, 05/08/2024 (MT Newswires) -- Albemarle (ALB) said Wednesday that it signed an agreement to deliver limestone material from its proposed Kings Mountain lithium mine to Martin Marietta Materials ( MLM ) .

The company said the deal is part of its plan to resume lithium mining operations at the mine, including opportunities to repurpose byproduct material. Under the agreement, Albemarle plans to deliver limestone material to Martin Marietta's Kings Mountain quarry, and Martin Marietta will process and sell the limestone product as construction aggregate, Albemarle added.

Financial details were not disclosed but Albemarle said Martin Marietta will pay a royalty fee for each ton of aggregate sold. Albemarle said it plans to transfer this royalty to a non-profit group focused on supporting Kings Mountain and surrounding communities.

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