Albemarle positioned to double lithium concentrate production at Greenbushes facility

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Mar 16, 2017, 05:30 ET

CHARLOTTE, N.C., March 16, 2017 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that Talison, a joint venture between Albemarle and Tianqi Lithium Corporation, has approved the expansion of lithium concentrate production at its Greenbushes, Australia spodumene mine. Greenbushes is the world's largest active lithium mine. It has the largest hard rock lithium reserve, and contains the highest concentration of lithium oxide available of any active mine.

"This project is integral to our announced lithium expansion plans so that we can meet the growing needs of our customers," said John Mitchell, president, Lithium and Advanced Materials for Albemarle. "The expansion of the mine and ore upgrading facilities is a key deliverable in our supply strategy to grow total combined lithium carbonate equivalent (LCE) production to approximately 165,000 MT/year early in the next decade."

The expansion is intended to more than double the LCE capacity at Greenbushes from 80,000 MT/year to more than 160,000 MT/year, of which Albemarle has a 50% interest in the offtake. Commissioning of the expansion is expected to begin in the second quarter of 2019.

About Albemarle
Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC, 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-added, customized solutions that make them more competitive. Our solutions combine the finest technology and ingredients with the knowledge and know-how of our highly experienced and talented team of operators, scientists and engineers.

Discovering and implementing new and better performance-based sustainable solutions is what motivates all of us. We think beyond business-as-usual to drive innovations that create lasting value. Albemarle employs approximately 4,500 people and serves customers in approximately 100 countries. We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.

SOURCE Albemarle Corporation