Albemarle's Low-Cost Lithium Will Benefit From Rising Demand From EVs and Energy Storage Systems

Albemarle is one of the world's largest producers of lithium, which generates the vast majority of its profits. It produces lithium through its own salt brine assets in Chile and the US and two joint-venture interests in Australian mines, Talison (Greenbushes) and Wodgina. The Chilean operation is among the world's lowest-cost sources of lithium carbonate. Talison is one of the best spodumene resources in the world, which allows Albemarle to be one of the lowest-cost lithium hydroxide producers, as spodumene can be converted directly into hydroxide. Wodgina is a spodumene asset that provides Albemarle with a third large resource, though it has a higher cost versus Talison. Albemarle also owns resources in the US and Argentina that are in the early development phase, which should allow it to boost its long-term lithium volumes through new development projects in the coming decades.