Albemarle says it wants to take control of Australia’s Greenbushes, the world’s largest lithium mine, signaling it intends to block any rival from buying Tianqi Lithium Corp’s controlling stake.
Tianqi, which owns 51% of Greenbushes to Albemarle’s 49%, is selling some of its prized assets, including Greenbushes, to pay down debt.
While Albemarle said earlier this month that it was interested in the sale, Thursday’s comments were the strongest to date that the company intends to exercise its right of first refusal to supersede other potential buyers.