Albemarle Shuts Kemerton Lithium Hydroxide Refinery in Australia, Impacting 275 Jobs
Albemarle has announced the immediate closure of its Kemerton lithium hydroxide refinery in Western Australia, resulting in about 275 job losses. The decision follows significant financial losses and an inability to compete with international counterparts. The refinery, which opened in 2022, will enter care and maintenance, with its operations expected to cease due to rising energy costs and price volatility in the lithium market.
Theia Market Signal Identification - AI Assisted
Albemarle is shutting down the first processing train at its Kemerton lithium hydroxide refinery in Western Australia, impacting approximately 275 jobs. The decision follows a $US414 million loss reported for Q4 2022, attributed to insufficient price recovery to cover operating costs amid ongoing price volatility.
The Kemerton facility, opened in 2022 and designed to process spodumene from the Greenbushes mine, will move to care and maintenance immediately. Despite this shutdown, Albemarle maintains that projected production volumes for 2026 will not be affected, with customer demand being met by other operations. Analysts cite rising energy costs as a significant factor in the refinery's uncompetitiveness.
Comments