Albemarle acquires Chinese lithium firm

Albemarle has signed a deal to acquire the lithium salts business of Jiangli New Materials, a Chinese company that toll-manufactures for Albemarle based on spodumene mineral raw material that Albemarle supplies. Jiangli has the capacity to produce 15,000 metric tons per year of lithium hydroxide and carbonate, both used in lithium-ion batteries. Albemarle is also expanding lithium chemicals output in Chile.