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of amended terms of the transactions MIN signed with lithium giant Albemarle Corporation in February. According to the release, the updated MARBL Joint Venture will simplify the commercial arrangements.

Mineral Resources’ share of the Wodgina lithium mine will increase to 50%. The ASX 200 miner will remain the operator of Wodgina. Albemarle will take full ownership of the Kemerton lithium hydroxide plant, which it currently operates.

The economic effective date for the revised transaction remains unchanged at 1 April 2022. Albemarle will pay Mineral Resources approx. US$380 to US$400 million.

The amended terms will no longer see Mineral Resources invest in any Chinese conversion assets with Albemarle. They also will not make any payments to Albemarle for joint downstream investments.

The company said it will enter a transitional tolling arrangement with Albemarle to convert Wodgina spodumene until 30 June 2024.

This will enable the miner to continue to build its team in China before marketing its own share of Wodgina spodumene concentrate and lithium battery chemicals. MIN will establish an office and warehouse in Ningbo, China.

Commenting on the amended terms, Josh Thurlow, MinRes CEO Lithium, said

The companies expect the arrangements to be completed in the December quarter.

<blockquote data-quote="Dona Ferentes" data-source="post: 1236869" data-attributes="member: 66457">More detailof amended terms of the transactions MIN signed with lithium giant Albemarle Corporation in February. According to the release, the updated MARBL Joint Venture will simplify the commercial arrangements.Mineral Resources’ share of the Wodgina lithium mine will increase to 50%. The ASX 200 miner will remain the operator of Wodgina. Albemarle will take full ownership of the Kemerton lithium hydroxide plant, which it currently operates.The economic effective date for the revised transaction remains unchanged at 1 April 2022. Albemarle will pay Mineral Resources approx. US$380 to US$400 million.The amended terms will no longer see Mineral Resources invest in any Chinese conversion assets with Albemarle. They also will not make any payments to Albemarle for joint downstream investments.The company said it will enter a transitional tolling arrangement with Albemarle to convert Wodgina spodumene until 30 June 2024. This will enable the miner to continue to build its team in China before marketing its own share of Wodgina spodumene concentrate and lithium battery chemicals. MIN will establish an office and warehouse in Ningbo, China.Commenting on the amended terms, Josh Thurlow, MinRes CEO Lithium, saidThe companies expect the arrangements to be completed in the December quarter.</blockquote>

[QUOTE="Dona Ferentes, post: 1236869, member: 66457"] [I]More detail[/I] of amended terms of the transactions MIN signed with lithium giant Albemarle Corporation in February. According to the release, the updated MARBL Joint Venture will simplify the commercial arrangements. Mineral Resources’ share of the Wodgina lithium mine will increase to 50%. The ASX 200 miner will remain the operator of Wodgina. Albemarle will take full ownership of the Kemerton lithium hydroxide plant, which it currently operates. The economic effective date for the revised transaction remains unchanged at 1 April 2022. Albemarle will pay Mineral Resources approx. US$380 to US$400 million. The amended terms will no longer see Mineral Resources invest in any Chinese conversion assets with Albemarle. They also will not make any payments to Albemarle for joint downstream investments. The company said it will enter a transitional tolling arrangement with Albemarle to convert Wodgina spodumene until 30 June 2024. This will enable the miner to continue to build its team in China before marketing its own share of Wodgina spodumene concentrate and lithium battery chemicals. MIN will establish an office and warehouse in Ningbo, China. Commenting on the amended terms, Josh Thurlow, MinRes CEO Lithium, said The companies expect the arrangements to be completed in the December quarter. [/QUOTE]

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