Albermarle agrees $1 billion plan to double Australian lithium hydroxide output, state govt says
2023.05.02 23:32
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MELBOURNE (Reuters) – Albemarle (NYSE:) has agreed to double capacity at its lithium hydroxide processing operations in Western Australia to 100,000 tonnes by 2026 and spend more than $1 billion to build two more trains at the facility, the state government said on Wednesday.
Construction is expected to start immediately at Albemarle’s Kemerton operations south of Perth, with the first production of the battery chemical from the expansion expected in 2026, according to a statement from state Premier Mark McGowan.
The lithium giant will build two more processing trains at the facility, to add to the two processing trains that are already ramping up after the plant was finished late last year.
Albemarle has an 85% interest in the facility and operates them under an agreement with partner Mineral Resources that was renegotiated in February.
It is estimated the capital expenditure new trains will be more than $1 billion, similar to the capital expenditure for first two trains, the state government said.
Albemarle, which did not immediately respond to an emailed request for comment, is scheduled to report its first-quarter results later in the day.
