US-based Albemarle Corporation has affirmed the importance of the Australian lithium industry, indicating it will be a key driver of the growing electric vehicle (EV) sector.
Albemarle has lithium assets across the world, including stakes in the Kemerton lithium hydroxide plant, Greenbushes and Wodgina lithium mines in Western Australia.
Albemarle chair, president and chief executive officer Kent Masters said Australia would be seen as a key partner in the future if it can “move quickly” on supply opportunities.
“As electric vehicle manufacturers seek to increase production exponentially in China, Europe and the US, we believe it will be Australian lithium enabling that growth,” he said on a recent visit to Albemarle’s Kemerton facility.
“I think Australia is particularly well positioned as many countries look to secure supply with existing key trading partners.
“It should have an absolute advantage if it can move quickly to capitalise on the opportunity.”
Masters said the passing of the Inflation Reduction Act in the US was a boon for both mining and processing of critical minerals in Australia, with US manufacturers looking to partner with trusted partners with free trade agreement (FTA) status.
He said Albemarle was exploring expansion options for its Kemerton plant, with the addition of two lithium-processing trains set to double capacity to 100,000 tonnes of lithium hydroxide per annum.
Construction of Kemerton and its first two processing trains was completed this year and first production was achieved in July. The plant is currently in the commissioning phase, with the product undergoing the qualification phase.
Albemarle and Mineral Resources (MinRes) entered into a non-binding letter agreement regarding the potential expansion of its MARBL lithium joint venture (JV) in February.
The MARBL JV was formed in November 2019 and involves the development of Wodgina and operation of Kemerton.
As part of the proposed expansion, Wodgina would be owned 50:50 by MinRes and Albemarle. The mine had previoulsy been split 60:40 between the two companies, with Albemarle owning the primary interest.