Stardust Power Inc. (NASDAQ:SDST) shares surged about 40% on Tuesday after the company said it has obtained the last major permit needed to move forward with building and commissioning its lithium refinery in Muskogee, Oklahoma.
The U.S.-based producer of battery-grade lithium carbonate said it received an air quality construction permit from the Oklahoma Department of Environmental Quality, completing the core regulatory approvals for what is planned to be one of the largest lithium refineries in the country.
“Securing this air permit completes our construction and commissioning permitting process and positions Stardust Power, subject to closure of project financing, to build one of the largest lithium refineries in the U.S.,” said Chris Celano, Chief Operating Officer at Stardust Power.
The ODEQ approval followed an extensive assessment of the site’s emissions controls, monitoring infrastructure, projected outputs and environmental protections. The permit confirms the refinery qualifies as a minor emissions source under both state and federal air quality rules, remaining below thresholds that would trigger major-source classification.
Stardust Power said the facility will operate with a closed-loop water system designed to recycle process water and avoid wastewater discharge, alongside continuous monitoring systems to ensure compliance with air quality standards.
With the permitting phase now complete, the company said it is moving toward a Final Investment Decision, with major construction expected to begin once project financing is finalized. When fully operational, the refinery is expected to produce up to 50,000 metric tons per year of battery-grade lithium carbonate, supporting North American electric vehicle and energy storage demand.