The Foreign Investment Review Board (FIRB) has approved a transaction between New York-listed Albamarle Corporation and ASX-listed Mineral Resources over the Wodgina lithium project, in Western Australia.
The two companies in December of last year struck a $1.15-billion agreement under which Albemarle would acquire a 50% interest in the Wodgina project, with the companies to form a joint venture (JV) to develop, mine, process and produce lithium and other minerals, apart from iron-ore, at the Wodgina project.