Albemarle’s Chinese lithium drive
Shortly after acquiring a lithium converter in Guangxi province, Albemarle has signed investment agreements that will enable it go build two lithium hydroxide plants in China. Each will have 50,000 tonnes/year of capacity and construction is to be completed by the end of 2024.
They are located at the Yangtze River International Chemical Industrial Park within the Zhangjiagang Free Trade Zone in Jiangsu province and the Pengshan Economic Development Park in the Pengshan district in Sichuan province.
The deal to acquire lithium converter Guangxi Tianyuan New Energy Materials for $200 million, meanwhile, should close in early 2022. Tianyuan’s operations include a 25,000 tonnes/year plant near the port of Qinzhou that should be completed in 1H 2022. This is capable of producing battery-grade lithium carbonate and lithium hydroxide.