Albemarle (ALB) Enters Agreement with Bolland Minera for Exclusive Rights to Argentina Lithium Resources

September 12, 2016 5:09 PM EDT

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Albemarle Corporation (NYSE: ALB) entered into an agreement with Bolland Minera S.A., for the exclusive exploration and acquisition rights to a lithium resource in Antofalla, within the Catamarca Province of Argentina. Albemarle believes that this lithium resource will be certified as the largest lithium resource in Argentina.

Albemarle is uniquely positioned to develop the Antofalla lithium resource given its technical capabilities, operational experience in South America, and proven track record of establishing public-private-partnerships and community relations in the region.

"For the past 80 years, we have developed proprietary lithium extraction know-how which will enable us to evaluate the lithium resource," said John Mitchell, president of Albemarle's Lithium and Advanced Materials global business unit.

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