ALB.US of the United States said it was working with Mineral Resources Ltd. A non-binding agreement was signed to explore the potential expansion of the joint venture MARBL in Australia, but financial details were not disclosed.
Under the non-binding agreement, ownership of the Wodgina lithium oxide mine will be set at 50 per cent, and the US company will retain 60 per cent ownership of the Kermerton lithium hydroxide production project.
In addition, the two companies will jointly finance the establishment of a new joint venture with a capital contribution of 50:50. The joint venture will seek to own more lithium mining assets outside Australia, and the US-based Arbor will be the operator of these lithium mines. At the same time, Abel will remain the exclusive distributor of the joint venture's lithium products.
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