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Albemarle (NYSE:ALB) said Tuesday it plans to spend $1.25B-$1.5B to build two additional processing trains at its Kemerton lithium hydroxide plant in Western Australia, which would make the company Australia’s largest lithium producer.
The company said the additional trains would increase the plant’s production by 50K metric tons/year and raise annual production capacity across the four trains to 100K tons, enough to produce batteries for more than 2M electric vehicles each year.
Kemerton and its first two processing trains were completed in 2022 at a cost of ~$1B and are part of the MARBL lithium joint venture with Mineral Resources Ltd.; trains 3 and 4 would be wholly owned and operated by Albemarle (ALB).
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