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(Kitco News) - Lithium producer Albemarle (NYSE: ALB) announced today its decision to build two additional processing trains at the leading-edge Kemerton lithium hydroxide plant in Western Australia.
The company said that additional trains will be wholly owned and operated by Albemarle and would increase the facility’s production by 50 kilo-tonnes per annum (50,000 metric tonnes per annum).
Operating at full capacity, the Kemerton plant would produce up to 100 ktpa (100,000 metric tonnes per annum) of lithium hydroxide, supporting the manufacturing of an estimated 2.4 million electric vehicles annually.
Albemarle noted that this investment, combined with the existing two trains at Kemerton owned by Albemarle’s MARBL joint venture, represents the biggest investment by any company in downstream processing of lithium in Australia and would make Albemarle the largest producer of lithium in Australia.
“Australia is essential to the global supply chain for energy storage and an important part of our diverse portfolio,” said Albemarle CEO Kent Masters. “Our decision to expand was driven by our confidence in future demand and allows us to offer customers additional supply from Greenbushes, well known as one of the world’s best lithium mines.”
Albemarle added it had created a specialized manufacturing industry in the south west of Western Australia and would continue to deliver local economic benefits including jobs and business opportunities for decades.
The expansion at Kemerton is part of Albemarle's larger presence in Western Australia, which includes various interests and stakes in spodumene resources at Greenbushes and Wodgina.
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