In 2019, Albemarle Corporation (Albemarle) completed the acquisition of a 60% interest in Mineral Resources Ltd. (MRL) Wodgina hard rock lithium mine project (“Wodgina Project”) and formed an unincorporated joint venture with MRL, named MARBL Lithium Operations Pty Ltd. (MARBL), for the exploration, development, mining, processing and production of lithium and other minerals (other than iron ore and tantalum) from the Wodgina spodumene mine and for the operation of the Kemerton assets in Western Australia.
On October 18, 2023, Albemarle closed on the restructuring of the MARBL with Mineral Resources Limited.
Under the amended agreements, Albemarle acquired the remaining 40% ownership of the Kemerton lithium hydroxide processing facility in Australia that was jointly owned with MRL through the MARBL joint venture. Following this restructuring, Albemarle and MRL each own 50% of the Wodgina Lithium Mine, and MRL operates the Wodgina mine on behalf of the joint venture.
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