In terms of operational progress, Stardust Power has achieved several key milestones in the development of its lithium refinery. The company completed its Front-End Loading Level 3 (FEL-3) engineering study, which established a capital cost estimate of approximately $500 million for the first phase of the project, expected to produce up to 25,000 metric tons of battery-grade lithium carbonate annually. Additionally, Stardust Power has entered into non-binding feedstock supply agreements totaling up to 13,500 metric tons per year of lithium carbonate equivalent, which is crucial for establishing a diversified supply pipeline.
The company has also received its air quality construction permit from the Oklahoma Department of Environmental Quality, positioning it to advance towards construction. CEO Roshan Pujari emphasized the importance of these developments in supporting a secure domestic lithium supply chain. The company is actively exploring various financing options to support the construction and development of the refinery, including potential strategic partnerships and government-supported financing programs. A conference call is scheduled for March 25, 2026, to discuss these results and future plans in detail.
