Australian Miner Gains Control Over US Lithium Giant’s China Assets
U.S. lithium giant Albemarle will deepen control of Australian lithium mining assets after revamping its joint venture with Mineral Resources (MinRes).
In turn, the Australian Mineral Resources will also gain partial control of two Chinese mining plants operated by Albemarle.
In the new deal announced on Feb. 22, Albemarle will initially deepen control over two spodumene conversion trains in Kemerton, Western Australia, from 60 to 85 percent.
Spodumene is in high demand for conversion to lithium which is used in the creation of lithium-ion batteries—now a must-have item amid the global push for net-zero. Lithium batteries are used in electric vehicles, smartphones, and large rechargeable batteries….