MAGNOLIA, ARK. (KTVE/KARD) — The Ablemarle Corporation is asking Columbia County, Ark., government for authorization of industrial development revenue bonds. These bonds will be used to finance major expansions of Ablemarle’s Magnolia South and Magnolia West bromine production facilities.

While no figure has been placed on the dollar value of the expansion, but similar projects within the chemical industry often run into the tens, or even hundreds of millions of dollars.

Since the late 1960s, the company has pumped brine from beneath Columbia and Union counties to extract bromine. Ablemarle has acknowledged that it plans to begin harvesting lithium from the same South Arkansas brine.

At 1:30 PM on Wednesday, November 9, 2022, the County Court of Columbia County will meet ““on the question of the entry of orders authorizing the issuance of industrial development revenue bonds on application of Albemarle Corporation, a Virginia corporation. The bonds will be issued under applicable laws of the State of Arkansas, including particularly Title 14, Chapter 164, Subchapter 2 of the Arkansas Code of 1987 Annotated, to finance expansions to the company’s existing facilities located at 2270 U.S. 79 and 1550 U.S. 371”, according to the notice sent to media.

An Albemarle spokesman said more information about the expansion plans will be available after Wednesday’s County Court action.