Ambitious Expansion Plan from World’s Largest Lithium Miner: To Quintuple Lithium Production in Eight Years!

Published: Jun 28, 2022 13:23

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On Monday EST, Albemarle Corp. executives announced a bold expansion plan that the company plans to increase its lithium production to about five times the current level, to 500,000 mt per year, by 2030.

SHANGHAI, Jun 28 - On Monday EST, Albemarle Corp. executives announced a bold expansion plan that the company plans to increase its lithium production to about five times the current level, to 500,000 mt per year, by 2030.

Albemarle expects global demand for lithium to reach 3.2 million mt per year by 2030.

The company has also officially announced a key step towards this expansion: the establishment of a 100,000-mt-per-year lithium processing plant in the US - a plant that already produces as much as the company's current total production - which is a clear indication of the company's long-term bullishness about the prospects for the US electric vehicle industry.

According to information previously published by the company, it expects to realise around 200,000 mt of lithium production by 2025.

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