Albemarle tells Bloomberg Chile to fully respect existing contracts

Albemarle told Bloomberg that it sees no material impact from Chile’s decision to take a majority stake in all new lithium contracts. The company said it has a valid contract through 2043 and the government has made clear that it will fully respect existing contracts. "We will continue to collaborate with the government of Chile regarding the proposed national lithium strategy," Albemarle told Bloomberg. "We have many shared interests to include how best to grow the lithium market and deploy new sustainable technologies," it added. Shares of Albemarle are down 7% to $179.69 in midday trading.