Albemarle sounds warning on critical minerals processing
The US-based firm’s decision to reduce output from its lithium hydroxide plant and write down much of its investment demonstrates the flaws in Australia’s plan for greater domestic processing of critical minerals.
The announcement from one of the world’s largest lithium producers that it will drastically reduce output from its lithium hydroxide plant in Western Australia demonstrates the big holes in Australia’s hopes to expand critical minerals processing domestically.
The decision by US-based Albemarle is due to the recent dramatic falls in the price of lithium amid expectations this will remain the case for some years despite the company’s insistence on the potential for longer-term growth.
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Jennifer Hewett is the national affairs columnist. She writes a daily column on politics, business and the economy. Connect with Jennifer on Twitter. Email Jennifer at jennifer.hewett@afr.com
