Albemarle would pay $1.15 billion for the stake in the joint venture (JV), which will own and operate the Wodgina mine and aim to develop lithium hydroxide on site.
Albemarle Corp has entered into an exclusive deal with Australian miner Mineral Resources (MRL) that may lead to the development of new battery-grade lithium hydroxide plant in Western Australia.
The companies have agreed to consider the creation of a JV that would own and operate the Wodgina hard rock lithium mine and ultimately develop an integrated lithium hydroxide operation at the site. Albemarle would manage the marketing and sales of the lithium hydroxide produced by the project.
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