Top Industry Leaders in the Lithium Derivatives Market
October 2023
Ganfeng Lithium, a Chinese company, has opened its first lithium processing facility in Nigeria, extending its foothold in the continent. For the new plant, which will cost about $250 million and once finished will employ thousands of locals, a groundbreaking ceremony was performed.
The project is anticipated to have a daily processing capacity of 18,000 tonnes of lithium and an annual processing capacity of 4.5 million tonnes once it is built and fully operational.
August 2023
SQM and LG Energy Solution announced a new long-term purchase deal to supply more than 100,000 metric tonnes of lithium carbonate and lithium hydroxide of the highest quality for batteries between 2023 and 2029. More than 2 million high-performance EVs can fit on this amount.
Additionally, the two businesses intend to intensify their collaboration in North America and Asia on lithium supply and production.
September 2023
Albemarle Corporation is moving towards the execution of a formal contract to acquire Liontown Resources Limited. Albemarle Corporation is a world leader in delivering essential elements for mobility, energy, connectivity, and health.
The planned acquisition of Liontown would reinforce Albemarle's dominant position in Australia, where it already has a wealth of experience and top-tier spodumene deposits and lithium conversion facilities at Greenbushes, Wodgina, and Kemerton, respectively. Furthermore, it would offer a better chance to fulfil the fast-increasing lithium demand prompted by electric vehicles and other end markets.
Albemarle Corporation is a world pioneer in the development of vital components for connectivity, energy, mobility, and health using basic materials like lithium and bromine.
Major players in the Lithium Derivatives market, including Albemarle Corporation (US), FMC Corporation (US), SQM SA (Chile), Tianqi Lithium (Australia), Ganfeng Lithium Co., Ltd. (China), General Lithium (Haimen) Corporation (China), and ZHONGHE Co., Ltd (China)., and others, are attempting to increase market demand by investing in research and development operations.