Stardust Power completes FEL-3 study for Oklahoma lithium refinery; Phase 1 capex ~$500M

Stardust Power Inc.

Phase 1 capacity: 25,000 mtpa battery-grade lithium, expandable to 50,000 mtpa in Phase 2.
Capital expenditure ~$500M for Phase 1, nearly $200M below prior estimates, with 90% probability.
Construction timeline ~24 months from start of major work to mechanical completion.
FEL-3 led by Primero USA; reduced contingency from 40% to lower level via 3D process model.
Company advancing toward Final Investment Decision (FID) with independent third-party review engaged.

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