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Albemarle Corporation (NYSE: ALB), headquartered in Baton Rouge, Louisiana, is a leading specialty chemicals company with a global footprint. Albemarle excels in developing, manufacturing, and marketing high-value products such as lithium and lithium compounds, bromine and derivatives, catalysts, and surface treatment chemistries. These products find applications in a wide array of industries, including consumer electronics, flame retardants, metal processing, plastics, transportation, refining, pharmaceuticals, agriculture, and construction.
As a fully integrated lithium producer, Albemarle operates significant upstream resources, including salt brine deposits in Chile and the US, and hard rock mines in Australia through joint ventures. The company has refining operations in Chile, the US, Australia, and China, making it one of the world's largest lithium producers. With lithium playing a crucial role in electric vehicle batteries, Albemarle is well-positioned for growth in the energy storage market, boasting 35% volume growth in Energy Storage sales volumes in 2023.
In addition to its stronghold in the lithium market, Albemarle is a global leader in bromine production, essential for flame retardants, and a significant producer of oil refining catalysts. The company's ongoing projects include the expansion of lithium conversion plants and advancements in technology for sustainable solutions.
Financially, Albemarle achieved a record net sales of $9.6 billion in 2023, driven by a 31% increase from the previous year. The company's continuous growth and strategic investments have positioned it for future success. Albemarle employs approximately 6,900 people and serves clients in around 100 countries, further strengthening its global presence.
Albemarle is committed to community development and environmental stewardship. Recently, the company announced a $1 million donation to Cleveland Community College to enhance workforce training programs and foster regional economic growth. Moreover, Albemarle's proactive measures are expected to unlock over $750 million in cash flow, ensuring ongoing financial flexibility and sustainable growth.
For more information on Albemarle Corporation, visit their website at www.albemarle.com.
Albemarle (NYSE: ALB) has declared a quarterly common stock dividend of $0.405 per share, payable on Oct. 1, 2024, to shareholders of record as of Sept. 13, 2024. The dividend has an annualized rate of $1.62. Notably, Albemarle has increased its dividend for 30 consecutive years, demonstrating a strong track record of shareholder returns.
Albemarle is a global leader in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. The company's focus on reliable and high-quality global supply of lithium and bromine enables it to deliver advanced solutions for its customers, contributing to a more resilient world.
The global lithium industry is experiencing significant growth, with reserves and resources surging 52.2% to 303.5 million metric tons in Q1 2024 compared to three years ago. Lithium South Development (TSXV:LIS) (OTC:LISMF) filed a new Preliminary Economic Assessment (PEA) for its Hombre Muerto North Lithium Project, revealing an after-tax NPV of US$938 million and an IRR of 31.6%. The company also updated its NI 43-101 technical report, showing a 175% increase in lithium resources to over 1.58 million tonnes of LCE.
Other industry developments include Sigma Lithium 's 40% upgrade in proven and probable reserves, Lithium Ionic Corp.'s $11 million financing for its Brazilian projects, Albemarle 's agreement to increase production quota in Chile, and Standard Lithium 's partnership with Equinor ASA for a potential $160 million investment.
Albemarle (NYSE: ALB), a global leader in essential resources for mobility, energy, connectivity, and health, announced it will release its second-quarter 2024 earnings on July 31, 2024, after the NYSE closes. The company will hold a conference call on August 1, 2024, at 8:00 AM ET to discuss the results. Access to the call will be available via webcast or direct dial, with replay information accessible through Albemarle's website. The company specializes in a reliable, high-quality global supply of lithium and bromine, partnering to deliver advanced solutions for various sectors.
Albemarle (NYSE: ALB), a global leader in essential elements for mobility, energy, connectivity, and health, has released its fourth annual Sustainability Day video. The video showcases key highlights from the 2023 Sustainability Report titled 'All the Elements for a Better World.' According to Chairman and CEO Kent Masters, sustainability is ingrained in Albemarle's purpose, strategy, and value proposition. The video details the company's progress and commitment to building a more resilient world in collaboration with global stakeholders.
Key areas of focus include environmental stewardship, social responsibility, and governance. The company has made advancements toward its sustainability targets and engaged in innovative agreements with third-party partners. The sustainability video is available on Albemarle's website, where viewers can also access the full 2023 Sustainability Report.
Ketjen has appointed Henri Tausch as the new Chief Commercial Officer (CCO), effective June 24, 2024. Tausch will be responsible for enhancing the company's commercial strategies and fostering partnerships to boost global growth. He brings a wealth of experience from his previous roles, including interim General Manager at Hexion for Latin America and various executive positions at Honeywell. Tausch holds a Master of Science in Electrical Engineering from the Technical University in Eindhoven. Ketjen's President, Michael Simmons, highlighted Tausch's proven track record in driving revenue growth and implementing commercial best practices as key assets for the company's future success.
Albemarle released its 2023 Sustainability Report, titled 'All the Elements for a Better World'. The report highlights the company's achievements in sustainability, including earning an EcoVadis Gold Medal and achieving an IRMA 50 level performance score for its Salar de Atacama site in Chile. Additionally, Albemarle announced an agreement with Martin Marietta Materials for repurposing byproduct material from its Kings Mountain Mine Project. The company is on track to meet its sustainability targets, such as reducing freshwater usage and carbon emissions. The report adheres to global sustainability standards, emphasizing Albemarle's commitment to creating value for stakeholders and a resilient world.
Albemarle has unveiled its project plan for the Kings Mountain Mine, a major lithium deposit in the U.S. The plan includes reducing land disturbance by utilizing former mine sites, sustainable materials management, and high environmental standards aligned with the Initiative for Responsible Mining Assurance (IRMA). The mine is expected to produce 420,000 tons of lithium-bearing spodumene concentrate annually, boosting the U.S. lithium supply for sustainable transportation and defense applications. The project has received significant funding from the U.S. Department of Defense and Department of Energy. An Environmental and Social Impact Assessment (ESIA) is underway, encouraging community engagement and aiming to mitigate adverse impacts.
On May 22, 2024, International Paper (NYSE: IP) announced the election of Jamie A. Beggs and Scott A. Tozier to its Board of Directors, effective May 21, 2024. Additionally, Ilene S. Gordon retired from the Board due to personal and health reasons.
Beggs, a seasoned financial executive, is currently Senior Vice President and CFO of Avient Tozier, a strategic advisor and former CFO at Albemarle , brings extensive financial and M&A experience. Both will join the Audit and Finance Committee and the Public Policy and Environment Committee.
These changes leave the IP Board with 11 directors, nine of whom are independent. Clinton A. Lewis, Jr. was named chair of the Governance Committee.
Albemarle and Martin Marietta Materials have signed an innovative agreement to utilize limestone material from Albemarle's Kings Mountain Mine in a socially and environmentally responsible manner. The agreement aims to support local communities and reduce operational footprints while contributing to sustainable resource management. Albemarle plans to deliver limestone material to Martin Marietta's Kings Mountain Quarry for processing and sale as construction aggregate, with royalty fees benefiting local initiatives.
Albemarle (NYSE: ALB) has declared a quarterly dividend of $0.40 per share with an annualized rate of $1.60. The dividend will be payable on July 1, 2024, to shareholders of record as of June 14, 2024.
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