# Albemarle signs exclusivity agreement for lithium JV with Mineral Resources

Albemarle signed an exclusivity agreement with Mineral Resources Limited to form a 50/50 joint venture to own and operate the Wodgina hard rock lithium mine and develop an integrated lithium hydroxide operation in Western Australia. Albemarle would pay US$1.15 billion for its 50% interest.

- Type: Partnership
- Announced: 2018-11-20
- Where: Pilbara region, Western Australia, Australia
- Value: $1.15B
- Status: announced
- Capacity: up to 750 Ktpa of 6% spodumene concentrate
- Products: lithium hydroxide, spodumene concentrate
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Albemarle](https://endata.com/companies/10514.md)
- [Mineral Resources](https://endata.com/companies/29130.md) (partner)

## Sources

- [albemarle.com](https://www.albemarle.com/us/en/news/albemarle-signs-exclusivity-agreement-mineral-resources-limited-5050-fully-integrated-lithium), 2018-11-20: "This Agreement is consistent with our corporate strategy of pursuing M&A opportunities that can accelerate and de-risk our organic growth strategy."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.