Albemarle said on Thursday it was interested in buying all or part of Tianqi Lithium’s controlling stake in Australia’s Greenbushes, the world’s largest lithium mine.
Already the world’s largest producer of lithium for electric vehicle batteries, Albemarle would cement its control over the global market for the white metal were it to take control of Greenbushes, a hard rock lithium mine.
Chengdu, China-based Tianqi, which owns 51% of Greenbushes to Albemarle’s 49%, said last month it was exploring selling equity and assets, including Greenbushes, to cut debt.