Albemarle Closes Amended MARBL JV, Expects To Pay Up To $400 Mln To Mineral Resources

(RTTNews) - Albemarle Corp. (ALB), a provider of essential elements for mobility, energy, connectivity, and health, said on Wednesday that it has closed on the restructuring of its MARBL joint venture or JV with Mineral Resources Limited, an Australian miner.

Albemarle expects to pay Mineral Resources $380 million to $400 million which includes net consideration for the estimated economic effective date or EED settlement adjustments and the remaining 15 percent ownership of Kemerton.

Albemarle now owns 100 percent 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, EED and joint ownership of the Wodgina mine, with Albemarle and Mineral Resources each owning a 50 percent share and Mineral Resources serving as the operator.