Albemarle Corporation (NYSE: ALB) shares moved sharply higher Wednesday, as the Charlotte, North Carolina-based company, a global leader in providing essential elements for mobility, energy, connectivity and health, announced a $1-million donation to Cleveland Community College (CCC) for the purchase of equipment, supplies and facility improvements to benefit workforce training programs. The Shelby, North Carolina-based college’s programs are designed to strengthen the region’s pipeline of skilled and diverse workers to support the growth of businesses and projects, such as the redevelopment of the Kings Mountain Mine.
The equipment and facility improvements are expected to be an integral part of CCC’s Heavy Equipment Operator Program and support apprenticeship programs Albemarle is developing for several electrical and process operations roles. In addition, Albemarle employees are expected to benefit from customized training programs for the mine’s mineral processing facility. These programs are designed to allow both students and incoming Albemarle employees to learn and train on state-of-the-art equipment and simulators.
“A skilled and capable workforce is one of the most critical ingredients needed as we work to strengthen our U.S. supply chain of lithium,” said Ellen Lenny-Pessagno, Global Vice President, External Affairs and Sustainability. “We are fortunate to have Cleveland Community College’s experienced faculty and resources right here in the community that can be leveraged to build a pipeline of talent.”
ALB shares jumped $3.28, or 2.9%, to $117.39.