CHARLOTTE, N.C. , Oct. 31, 2019 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that it has closed its transaction with Mineral Resources Limited (", MRL", ) (ASX: MIN) under the Asset Sale and Share Subscription Agreement that was entered into on December 14, 2018 , and subsequently amended on August 1, 2019 , and the MRL Kemerton Sale and Purchase Agreement that was entered into on August 1, 2019 (", Agreement", ). The 60/40 joint venture between Albemarle and MRL, respectively, is named MARBL Lithium Joint Venture (", MARBL, "). Under the Agreement, Albemarle has acquired a 60% interest in MRL's Wodgina spodumene mine in Western Australia for US$1.3 billion , consisting of a cash payment of US$820 million , and the transfer to MRL of a 40% interest in two 25 ktpa lithium hydroxide conversion trains being built by Albemarle at Kemerton in Western Australia. MARBL will manage the operation of the Wodgina mine and the…, About Albemarle, Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, N.C. , is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to transportation and electronics. Working side-by-side with our customers, we develop value-…, Forward-Looking Statements, Some of the information presented in this press release, including, without limitation, information related to plans and anticipated benefits in relation to the joint venture, and all other information relating to matters that are not historical facts may constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ…
Type: Article