Albemarle closes MARBL JV restructuring with Mineral Resources; expects $380-400M payment

ALBEMARLE CORP

MARBL restructuring closed October 18, 2023 after receiving required regulatory approvals.
Estimated net payment of ~$380-400M from Albemarle to WLPL, including $180M for 15% ownership in two Kemerton lithium conversion trains.
Transitional tolling agreement: Albemarle to convert up to 16,500 tonnes/month of spodumene for WLPL until first half of 2024.
Following closing, MRL and affiliates have no further rights to lithium hydroxide produced at Kemerton assets.

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