Albemarle (NYSE: ALB) revealed
on Thursday it was mulling a possible acquisition of all or part of Tianqi’s stake
in Greenbushes mine in Western Australia, the world’s largest hard-rock lithium
operation
Discussing results for the first three months of the year, the US-based lithium miner’s chief executive, Kent Masters, told investors its company was “interested” in Tianqi’s controlling stake in Greenbushes. “We’re following it,” he said.
Masters added that Albemarle, the
world’s top producer of the key commodity for the batteries that power electric
vehicles, would base any decision on the matter on current market conditions.
Tianqi Lithium, China’s top producer of the battery metal, warned in April it would soon have to take aggressive measures, including stake sales, to pay back over $6 billion in debt.
More to come…