Compass Minerals announced the $252 million strategic equity investment from Koch Minerals & Trading, LLC (KM&T) has been completed through the purchase of Compass Minerals common stock.

The company expects to use approximately $200 million of the proceeds from the investment to advance the first development phase of its previously identified 2.4 mMT lithium carbonate equivalent (LCE) Great Salt Lake resource.

The remaining $52 million of proceeds from the KM&T investment, less transaction expenses, is expected to be used to reduce debt. Additionally, as part of the agreement, the two companies are exploring value creation opportunities across Compass Minerals’ broader operational platform by leveraging the expansive capabilities of Koch’s many operating subsidiaries.

Read the full news release for more information.