# Albemarle to acquire 60% stake in Wodgina lithium mine and form JV with Mineral Resources

Albemarle amended its agreement with Mineral Resources to acquire 60% ownership of the Wodgina lithium mine in Western Australia and form a 60-40 joint venture to operate the mine and lithium hydroxide production facilities. Albemarle will pay US$820 million in cash and transfer a 40% interest in two lithium hydroxide conversion units in Kemerton.

- Type: Acquisition
- Announced: 2019-07-31
- Where: Western Australia, Australia
- Value: $820.0M
- Status: announced
- Capacity: 50 ktpa lithium hydroxide conversion capacity
- Products: lithium hydroxide, hard rock lithium
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

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

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/albemarle-announces-amendment-to-its-definitive-agreement-with-mineral-resources-limited-to-form-lithium-joint-venture-in-western-australia-300894558.html), 2019-08-01: "The ALB-MRL joint venture will generate great value by bringing together the mining expertise of MRL and the conversion process and market knowledge of Albemarle."

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