Albemarle Begins Commissioning New Lithium Plant in Chile

Zacks.com reported that Albemarle (NYSE:ALB) has started commissioning its new lithium carbonate plant at its La Negra site in northern Chile. The plant is set to start production in Q3 of 2015.
As quoted in the publication:

Albemarle has spent roughly $200 million on the facility to make sure that it enables the company to meet the fast-growing customer demand for lithium, especially high purity lithium compounds needed for making lithium-ion batteries. The plant will provide a reliable supply of high quality products, maintaining Albemarle’s position as a global leader in lithium production.
The plant is slated start commercial production of lithium carbonate during third-quarter 2015. Albemarle plans to beef up production from the new capacity starting early 2016. Initial production from the plant will be sold into technical applications. The facility will eventually produce 20,000 tons of battery-grade lithium carbonate annually.

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