As the car battery demand changes Albemarle pay more attention to developing lithium hydroxide assets

As the car battery demand changes Albemarle pay more attention to developing lithium hydroxide assets

Albai Energy (Albemarlecorp.) Agreed to spend $ 1.15 billion to acquire a large-scale shares of Australia to ensure that the world’s largest lithium producer can get a more refined lithium raw material.

This raw material is increasing. The more it is used for electric car batteries. This headquartered company in North Carolina will hold 50% of the MineralresourcesLTD.

. The joint venture will have and operate WODGINA lithium mine, and the mining period is more than 30 years..

According to the agreement, Albemarle will be responsible for marketing and sales of lithium hydroxide, which is higher than the price of lithium carbonate.. Albemarle plans to expand its production in Australia to benefit from the rising demand from lithium hydroxide.

This mineral can be better with a cathode containing a higher nickel content, helping electric vehicles are higher at a time charging.. This transaction suggests that the company has made a rapid response to the demand for this important concentration on lithium carbonate.

. BenchmarkMineralintelligence Senior Analyst AndrewMiller said in an email, “The company diversified the company’s lithium hydroxide assets to ensure that its hydroxide supply chain rises, this is reasonable. If the raw materials and chemical production are combined, those companies that produce hydroxides from lithium hydroxide are only competitive, and Albemarle is obviously tried to strengthen their position through mineral resource joint venture.

“. With the manufacturer of TSLA (TeslaInc.) To increase electric vehicle production, by 2025, the total demand for lithium is expected to rise nearly twice.

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