August 1, 2019 / 12:27 AM / 3 months ago

Australia's Mineral Resources to sell larger stake in Wodgina to Albemarle

Aug 1 (Reuters) - Mineral Resources Ltd on Thursday said that Albemarle Corp, the world’s largest lithium producer, would now buy a 60% stake in its Wodgina Lithium Project, instead of the previously agreed 50%.

Albemarle will pay the mining services provider $1.3 billion for the stake, compared with the initially agreed $1.15 billion.

The companies will form a 60:40 joint venture to operate Wodgina as part of the deal, Mineral Resources said in a statement. (Reporting by Ambar Warrick in Bengaluru; editing by Richard Pullin)

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