LTR and HP will consider a partnership with ALB but this means a long term bet that hydroxide will remain a significant component of the mix of battery chemistries for the next 20+ years and I'm not sure we need to make this bet.
Excellent point - why would LTR or even HP alone want to go into a JV with ALB at all? What exactly is ALB bringing to the table here? No underground mining experience, only a lithium hydroxide plant that could end up being a white elephant. Then you’re stuck being in business with a company trying to rescue their investment rather than one trying to maximise profit for the JV. That’s the whole reason LTR went into the agreement with Sumitomo, they wanted some expertise in downstream chemical processing. Maybe hydroxide is it, in which case ALB is useful; maybe carbonate or sulfate or some other intermediate becomes more profitable or in greater demand - in which case Kemerton and ALB become a huge albatross around your neck.
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