News

• Albemarle committed to leading downstream production of lithium in Australia
• Early FID to expand Kemerton plant critical to meet skyrocketing EV demand
• Albemarle gearing up for nearly 5x growth in global lithium demand by 2030

The global CEO of Albemarle Corporation (NYSE: ALB), a world leader in providing essential elements for mobility, energy, connectivity and health, said today there was no doubt that Australia would continue to be a lithium supplier of choice for the world’s top manufacturers of electric vehicles (EVs).

During a visit to Western Australia, CEO Kent Masters, confirmed demand for lithium hydroxide continues to make Australia, and Albemarle’s Kemerton processing plant, a focal point for world supply.

The Kemerton plant, completed with two lithium processing trains in 2022, and located near Bunbury in the Southwest of the State, is the most modern plant of its type in the world. When operating at full capacity, Kemerton will in the future support the manufacturing of 2.4 million electric vehicles annually.

Mr Masters said the company’s Final Investment Decision (FID) taken in May this year to expand the plant to four processing trains with a future production capacity of 100,000 metric tonnes per year, was made almost a year early in order to meet global demand for EVs.

“The decision reaffirms our commitment to our operations in Australia and further points to the confidence we have in our local team at Kemerton to expand from two processing trains to four,” he said.

“Albemarle forecasts a nearly five-fold increase in global lithium demand from 800,000 million tonnes in 2022 to 3.7 million tonnes in 2030, and the business is acutely aware of the importance of Australia in helping to meet that demand.

“Looking to the future with respect to technology, we are focused on refining process technology within our core business and on the development of new advanced materials – particularly in batteries, and battery materials recycling.”

Mr Masters said Kemerton represented a multi-billion dollar investment by Albemarle in Australia and was part of a proven long-term strategy for profitable growth, maximum productivity, disciplined investment, and industry-leading sustainability.

At full capacity Kemerton is expected to employ approximately 850 people in the region.