(Kitco News) – Albemarle (NYSE: ALB), one of the largest lithium producers in the world, yesterday inaugurated its third chemical conversion plant, La Negra III/IV, in Antofagasta, Chile, as one of the most modern chemical conversion plants in Latin America.
The company said that with new technology, the plant is expected to double lithium production and further reduce the company’s low-freshwater consumption in this process, marking a clear commitment to sustainable production.
President and CEO Kent Masters stated, “This new plant marks a milestone in Albemarle’s commitment to lead our industry, responding to increasing global demand for lithium through innovation and dedication to sustainability. Lithium is key to an energy transition that must be implemented with meticulous attention to dialogue, sustainability, and social value. This inauguration also demonstrates the importance of Chile for Albemarle, and our commitment to continue collaborating with the country in this industry.”
The ceremony was attended by the Minister of Mining, Marcela Hernando, as well as various government authorities, representatives of indigenous communities, academics, diplomats, international delegations, and people from the mining industry, who highlighted the contribution of this new plant to the development of the lithium industry in Chile, the company said.
Located 27 kilometers from the city of Antofagasta, Chile, Albemarle’s La Negra III/IV plant represents an investment of more than US$ 500 million and has R&D laboratories and facilities for the complex chemical processes that are intended to remove impurities and transform the lithium concentrate from the Salar de Atacama into high value-added products.
Albemarle is a global specialty chemicals company with leading positions in lithium, bromine, and refining catalysts. Albemarle employs approximately 5,600 people and serves customers in approximately 100 countries.