ALBEMARLE CLOSES AMENDED MARBL LITHIUM JOINT VENTURE ARRANGEMENT

Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, announced today it has closed on the restructuring of its MARBL joint venture with Mineral Resources Limited (ASX: MIN.AX) announced earlier this year after receiving the required regulatory approvals.

Albemarle Corp. Logo. (PRNewsFoto/Albemarle Corporation)

The amended agreements were entered into by the parties to further simplify commercial arrangements. Albemarle now has 100% ownership of the Kemerton lithium hydroxide processing facility in Australia and retains full ownership of its Qinzhou and Meishan lithium processing facilities in China.

Other key aspects of the revised agreements include the April 1, 2022 , economic effective date (EED) and joint ownership of the Wodgina mine, with Albemarle and Mineral Resources each owning a 50% share and Mineral Resources serving as the operator.

Albemarle expects to pay Mineral Resources US$380 - 400 million which includes net consideration for the estimated EED settlement adjustments and the remaining 15% ownership of Kemerton.

About Albemarle

Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at albemarle.com and on Twitter @AlbemarleCorp.

Albemarle regularly posts information to our website, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding the company, its businesses, and the markets we serve.

Forward-Looking Statements

This press release contains statements concerning our expectations, anticipations, intentions, beliefs, or strategies regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions and events to differ materially from those anticipated, often contain words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "would," "will" and variations of such words and similar expressions. Forward-looking statements may include, without limitation, statements regarding the restructuring of the MARBL joint venture, the actual consideration to be paid to Mineral resources, and all other information relating to matters that are not historical facts. 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; adverse changes in liquidity or financial or operating performance; changes in the demand for our products or the end-user markets in which our products are sold; fluctuations in lithium market pricing; changes in laws and government regulation; and the other factors detailed in the reports we file with the SEC, including those described under "Risk Factors" in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the investor section of our website (investors.albemarle.com). These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-closes-amended-marbl-lithium-joint-venture-arrangement-301960385.html

SOURCE Albemarle Corporation

News Provided by PR Newswire via QuoteMedia

ALB
The Conversation (0)
Grid Battery Metals Drilling Update on its Clayton Valley Lithium Project

Grid Battery Metals Drilling Update on its Clayton Valley Lithium Project

(TheNewswire)

Grid Battery Metals Inc..

Coquitlam, BC September 26, 2024 TheNewswire Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: W47 ) is pleased to announce that a reverse circulation drilling program is well under way on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada.  This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine.  The Company has completed the drilling of its first hole to a depth of over 870 feet, with the remaining drill holes proposed to a maximum depth of 1500 feet.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Grid Battery Metals Begins Drilling the Clayton Valley Lithium Project

Grid Battery Metals Begins Drilling the Clayton Valley Lithium Project

(TheNewswire)

Grid Battery Metals Inc..

Coquitlam, BC TheNewswire - September 12, 2024 - Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: NMK2 ) is pleased to announce that a reverse circulation drilling program is commencing on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada. This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine. The Company plans to drill several exploration holes to maximum depths of 1500 ft. in several strategic locations on the property during the month of September.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Grid Battery Metals Completes Phase 2 of its 2024 Clayton Valley Project 2024 Exploration Plan

Grid Battery Metals Completes Phase 2 of its 2024 Clayton Valley Project 2024 Exploration Plan

(TheNewswire)

Grid Battery Metals Inc..

Coquitlam, BC TheNewswire - June 20, 2024 - Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: NMK2 ) is pleased to announce the conclusion of a second phase of soil samples and the construction of a geologic model incorporating mapped geology, magnetotelluric (MT) geophysics, and soil geochemistry. Grid's exploration team has determined that a multilayered approach to drill targets would improve the chances of intercepting lithium bearing brines.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Grid Battery Metals Files NI 43-101 Technical Report on its Clayton Valley Lithium Project in Nevada

Grid Battery Metals Files NI 43-101 Technical Report on its Clayton Valley Lithium Project in Nevada

(TheNewswire)

Grid Battery Metals Inc..

Grid Battery Metals Inc. (the "Company" or "Grid Battery")  ( TSXV:CELL ) ( OTC:EVKRF ) ( FRA:NMK2 ) is pleased to announce that the NI 43-101 Technical Report for Grid's Clayton Valley Lithium Project, dated March 4, 2024, prepared by Mr. Steven McMillin P.G. of Rangefront Geological, has been filed on SEDAR+ (www.sedarplus.ca) and can be viewed on the Company's website at Clayton Valley Technical Report

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
  Loyal Lithium Limited

Strategic Consolidation of Hidden Lake and Board Changes

Loyal Lithium Limited (ASX:LLI) (Loyal Lithium, LLI, or the Company) is pleased to announce the execution of a definitive agreement for the consolidation of the Hidden Lake Lithium Project, with Patriot Battery Metals (ASX:PMT) becoming a substantial LLI shareholder. Mr. Blair Way, Non- Executive Director and former President & CEO of Patriot Battery Metals, will join the Loyal Lithium Board of Directors, bringing valuable regional and industry expertise to guide the company's growth initiatives. The consolidation of the Hidden Lake Lithium Project provides Loyal Lithium with greater flexibility and optionality to deploy innovative exploration and development solutions.

Keep reading...Show less
Drilling Commences at the Barra Lithium Project in Brazil

Drilling Commences at the Barra Lithium Project in Brazil

Summit Minerals Limited (ASX:SUM) (“Summit” or the “Company”) is pleased to announce that Summit’s maiden drilling program has commenced at the recently acquired 100% owned Barra Lithium Project (“Barra”).

The Barra Lithium Project consists of four recently acquired tenements that are located within close proximity to the existing operating Miranda Lithium mine that is within the Borborema Pegmatitic Province (“BPP”) in northeast Brazil.

Keep reading...Show less
Lithium Universe

Lithium Universe


Keep reading...Show less
CleanTech Lithium (AIM:CTL)

Issue of Equity and TVR


Keep reading...Show less

Latest Press Releases

Related News

×