Dear members and the wider business community,
Albermable has announced a number of actions in response to market conditions. These include major changes at the company’s lithium hydroxide plant at the Kemerton Strategic Industrial Area. For further details, please refer to the official press release by clicking here. The key summary points highlighted by Albemarle include:
- The difficult but necessary decision to cease the expansion of our Kemerton plant and put processing Train 2 into care and maintenance (until a sustained market improvement) is necessary given market headwinds that began last year and are expected to last longer than the industry anticipated. We will continue operating Train 1.
- 300 direct employees are expected to be impacted. Albemarle will continue employ around 460 people at the Kemerton plant.
- To be clear, today’s decision on Kemerton has nothing to do with State or Federal government policy. It has everything to do with market conditions and the commercial realities that lithium prices will stay lower for longer.
- Australia will continue to play an important role in Albemarle’s long-term strategy with its world-class resources, exploration for new resources and our existing investment in downstream infrastructure.
- Albemarle continues to have confidence in the long-term demand for its lithium products. The energy transition is well underway, and the long-term growth potential of our end markets remains strong.
- Albemarle has invested in Western Australia for the long-term. In addition to the two trains at Kemerton, we have significant interests in the Greenbushes and Wodgina mines, and later this year will begin an exploration program, looking for more lithium.
The Chamber is committed to serving as a conduit for those seeking employment and support. We understand some local businesses may also be affected.
If your company is actively hiring, please email a list of available positions to admin@bgcci.com.au. If you are seeking connection to financial or business support, please also email us outlining what you require.
By working together, we aim to help minimise disruptions within our community through connection to job placements, finance and mortgage assistance.
Thank you for your ongoing support.
Julie Broad
CEO
Bunbury Geographe Chamber of Commerce and Industry.
