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Albemarle to buy lithium producer Rockwood for $6.2 billion

Thu, 07/17/2014 - 10:32 -- Laura Varriale
Rockwwod lithium asset in Nevada

Chemical maker Albemarle is to pay $6.2 billion in stock and shares for lithium producer Rockwood to tap into the increasing demand for lithium.

Rockwood is one of the four big lithium producers that control about 90% of the lithium production market. The purchase of Rockwood will give Albemarle access to the company’s assets in the Atacama desert in Chile, providing a low-cost base for lithium production. Rockwood also has a site in Nevada, US.

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