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Albemarle Bets on Lithium Turnaround in Wave of Green-Car Goals


Top Lithium Miner Bets on Turnaround in Wave of Green-Car Goals
Bloomberg
2/22/2021
Yvonne Yue Li
(Bloomberg) Albemarle Corp. has earmarked almost all the proceeds from a $1.5 billion equity offering to expand its lithium capacity as the global battery boom gathers momentum.
Already the world’s biggest lithium supplier, the Charlotte, North Carolina-based company will allocate about 90%, or $1.35 billion, of a bigger-than-planned capital raise to expand operations in Chile and Australia and processing plants in China, Chief Executive Officer Kent Masters said.
Producers of the key ingredient in rechargeable batteries are starting to ramp up amid signs the market is finally recovering from a glut. Chinese spot prices of the soft, slivery white metal have rebounded this year as a wave of green-vehicle targeting boosts demand prospects. Ford Motor Co. announced last week that its passenger-vehicle range will be all-electric in Europe by ....

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Tianqi Lithium Scraps Share Sale After Exchange Questions Plan


Tianqi Lithium Scraps Share Sale After Exchange Queries Plan
Bloomberg
1/18/2021
Bloomberg News
© Bloomberg
Lithium ore moves along a conveyor at a Talison Lithium Ltd. facility, a joint venture between Tianqi Lithium Corp. and Albemarle Corp., in Greenbushes, Australia, on Thursday, Aug. 3, 2017. Rising Chinese demand for lithium-ion batteries needed for electric vehicles and energy storage is driving significant price gains and an asset boom in Australia, already the world s largest lithium producer.
(Bloomberg) Tianqi Lithium Corp. halted a private share-sale plan after a Chinese exchange queried the deal.
The company said Sunday it had terminated the plan, announced Friday, that would see it raise as much as 15.9 billion yuan ($2.5 billion) by issuing stock to controlling shareholder Chengdu Tianqi Industry Group Co. at 35.94 yuan per share about 40% below its last closing price. Tianqi said it scrapped the deal to avoid sh ....

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