Compass Minerals International, Inc. (NYSE:CMP) shares are trading higher by 15% at $69.50 after the company announced it identified approximately 2.4 million metric tons of sustainable lithium resource.

Compass Minerals produces two primary products: salt and specialty fertilizers. The company's main assets include rock salt mines in Ontario, Louisiana, and the United Kingdom and salt brine operations at the Great Salt Lake in Utah.

Compass' salt products are used for deicing and also by industrial and consumer end markets. The firm's largest specialty fertilizer product is sulfate of potash, which is used by growers of high-value crops that are sensitive to standard potash.

Compass Minerals has a 52-week high of $72.00 and a 52-week low of $48.61.