Albemarle to acquire 50% stake in Wodgina lithium project from Mineral Resources

Albemarle signed an agreement to acquire a 50% interest in Mineral Resources' Wodgina hard rock lithium project in Western Australia for $1.15 billion, forming a joint venture to produce spodumene concentrate and battery grade lithium hydroxide.

“Albemarle would acquire a 50 percent interest in all mineral rights within the Wodgina tenements, other than iron ore and tantalum, the spodumene concentration plant and all other fixed infrastructure, utility assets and mobile mining equipment to be used in the Wodgina Project, for a purchase price”albemarle.com

• 2 sources
• albemarle.comAlbemarle Announces Definitive Agreement with Mineral ResourcesDec 14, 2018
• miningconnection.comAlbemarle to Acquire Stake in Wodgina Lithium Project for $1.1 Billion, Australia | Mining Connection — The Link For All Your Mining ResourcesDec 20, 2018

Summarized from public sources; check the original articles before acting on it.