Albemarle in Discussions with Mineral Resources to Expand Lithium Joint Venture
February 9, 2022
"The expansion of MARBL would be consistent with our corporate strategy to pursue profitable growth and to be disciplined stewards of capital," said
The non-binding letter envisions certain key principles, including:
- Ownership of the Wodgina mine would change from 60/40 (ALB/MIN) to 50/50.
- Ownership of Kemerton I/II would remain 60/40 (ALB/MIN).
- Albemarle would supply Greenbushes spodumene for use at Kemerton.
- Potential new 50/50 joint venture to own additional lithium conversion asset(s) outside of
Australiato be jointly funded 50/50 by MRL and Albemarle. Albemarle would be the operator of these assets.
- Albemarle would remain the exclusive marketer of lithium products for the JV(s).
The transactions contemplated by the non-binding letter agreement are subject to due diligence and the parties entering into binding agreements to effect the proposed transactions.
We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations,
Some of the information presented in this press release, including information related to any potential expansion of the MARBL Lithium 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 materially from the views expressed herein. Factors that could cause actual results to differ materially from the outlook expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; changes in priorities, financial, and operating performance of our major customers and industries and markets served; the timing of orders received from customers; the gain or loss of significant customers; competition from other manufacturers; changes in the demand for our products or the end-user markets in which our products are sold; the availability of financing; the satisfaction of conditions to completion, including regulatory approvals; the occurrence of regulatory actions, proceedings, claims, or litigation; and the other factors detailed from time to time in the reports Albemarle files with the
Media Contact: Kelli Hopp-Michlosky, +1 (980) 999-5143, Kelli.Hopp-Michlosky@albemarle.com; Investor Relations Contact: David Burke, +1 (980) 299-5533, David.Burke@albemarle.com
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