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Why Did Stardust Power Plunge 6.31%?
Generated by AI AgentAinvest Movers Radar
Wednesday, May 14, 2025 5:05 am ET1min read
On May 14, 2025, Stardust Power's stock price dropped by 6.31% in pre-market trading, marking a significant decline for the company.
Stardust Power recently announced that its planned lithium processing facility in Muskogee, Oklahoma, will not require an industrial wastewater discharge permit. This news follows a determination process by the Oklahoma Department of Environmental Quality (ODEQ), which confirmed that no such permit is necessary for the facility. This development is significant as it streamlines the permitting process and reduces potential regulatory hurdles for the company's operations.
Additionally,
has finalized a key infrastructure agreement with Oklahoma Gas and Electric Company (OG&E) to develop an electric substation on its site. This agreement is crucial for powering one of North America’s largest proposed lithium refineries, located in Muskogee, Oklahoma. The substation will provide the necessary electrical infrastructure to support the facility's operations, ensuring a reliable power supply for the lithium processing activities.
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