Jan. 4, 2017 11:37 AM ET|About: Albemarle Corporation (ALB)|By: Carl Surran, SA News Editor
Albemarle (ALB +1.3%) says it has received final approval to expand lithium operations in Chile.
ALB says it agreed to amend its lithium production rights agreement to extend the term and increase the company's authorized lithium quota at its facility in the Salar de Atacama, Chile.
ALB says the amended deal will provide sufficient lithium to produce more than 80K metric tons/year of technical and battery grade lithium salts over the next 27 years at its expanding battery grade manufacturing facilities in La Negra.
