ALBEMARLE'S HISTORY@
@alexei ii"...but one thing I disagree with is your take on ALB being dumbasses and stupid. These guys are anything but.Have a look at ALB pedigree...Alb formed from Ethyl Corp..."
I have done a lot of research about Albemarle's history before. So I know what they did right and wrong.
I can tell you I didn't like what I saw. There are a lots of tricky things and secrets in it.
The original Albemarle was established in 1887 as Albemarle Paper Manufacturing Company.
Just wait now...
In 1923 GM and ESSO forms Ethyl Corp.
Creators of Tetraethyllead (TEL) - Toxic and poisonous lead additive for fuel.In 1923 Ethyl Corp was formed by General Motors and Standard Oil of New Jersey (Esso). General Motors had the "use patent" for tetraethyllead (TEL) as an antiknock lead additive for fuel. Esso had the patent for the manufacture of TEL. Since the patents affected the marketing of TEL,
General Motors and ESSO formed Ethyl Corp.
Within the first year of its operation,
the company’s plants were plagued by cases of lead poisoning, hallucinations, insanity, and even the deaths of its employees due to exposure to lead. While the company tried to hush the news, at times it was impossible, for example in 1924 when five production workers died and 35 more turned into staggering wrecks at one ill-ventilated facility.
In 1962, Albemarle Paper Manufacturing Company buys out Ethyl Corporation, a corporation 13 times its size.Albemarle then changed its name to Ethyl Corporation.In 1962, Albemarle Paper Manufacturing Company, borrowed $200 million and purchased Ethyl Corporation (Delaware), a corporation 13 times its size. Albemarle then changed its name to Ethyl Corporation.
It is believed that General Motors sought to divest itself of "Ethyl Corporation," owing to concern about liabilities of TEL. The 1962 transaction was the largest leveraged buyout at that time.
This transaction looks suspicious to me now.
And during 100 years untl 2021, people of world were all being poisoned by the lead additive by the fuels and its smokes on the streets. Corporates didn't care about it.
"
The World Has Finally Stopped Using Leaded Gasoline. Algeria Used The Last Stockpile" 30/08/2021
ALBEMARLE LOOKS FOR NEW OPPORTUNITIES IN 1970s & 1980sDuring the 1970s and 1980s, the Ethyl Corporation expanded and diversified in response to the gradual decline of the market for TEL, as the automotive industry shifted to unleaded gasoline.....
IN 1973 "GOOD LUCK" COMES WITH A MILITARY COUP IN CHILE...
(Atacama project is on the horizon..!)Chilean general Pinochet seized power in Chile in a coup,
with the support of the US that toppled
Allende's
democratically elected left-wing government and ended civilian rule.
As the leader of the Military Junta of Chile
from 1973 to 1981, being declared President of the Republic by the junta in 1974 and becoming the
de facto dictator of Chile, and
from 1981 to 1990 as de jure President after a new Constitution, which confirmed him in the office, was approved by a referendum in 1980. His rule remains the longest of any Chilean leader in history.
Allende
Allende refused to surrender and killed in the palace
Military coup at work..!
Pinochet and Kissinger
ATACAMA (SALT LAKE BRINE) PROJECTS CAN NOW BE TAKEN...
By SQM and FOOTE MINERALS (a predecessor of Albemarle)Here is the proof, from the mouth of Albemarle;
SEC Technical Report Summary by Albemarle
Pre-Feasibility Study, Salar de Atacama, Región II, Chile
January 28, 2022
https://www.sec.gov/Archives/edgar/data/915913/000091591322000025/exhibit9631231202110-k.htm
"Albemarle’s mineral rights at the Salar de Atacama in Chile consist of the right to extract lithium brine, pursuant to a long-term contract with the Chilean government, originally entered into in 1980 by Foote Minerals, a predecessor of Albemarle. This contract has been subsequently amended and restated".
In 1979, the government, led by strongman Augusto Pinochet, declared the lithium reserves to be under its control.
In 1980, CORFO (Corporación de Fomento de la Producción) the governement company, signed contracts with
a U.S. company, Foote Mineral, to extract and sell the mineral. Foote had the technology (developed at its plant in Silver Peak, Nevada which is also an ALB asset now) for converting lithium brine into useful forms.
Then, in 1989,
CORFO sold its stake toFoote Minerals and its successor companies have extracted roughly 300,000 tons of lithium carbonate from under the ancestral lands of the Atacamas.
In 2012, Foote Mineral was acquired by Rockwood mining company.In 2014, Rockwood and Tianqi Lithium Industries Inc. created Windfield Holdings Pty. Ltd., a joint venture, owned 49% by Rockwood, to purchase Talison.
In 2015, Rockwood was acquired by the Albemarle Inc.
IT WAS ALSO SQM WHICH GOT THE BIGGEST PORTION OF ATACAMA PROJECT
Principal stock holder of SQM is Julio Ponce Lerou, the son-in-law of dictator PinochetI have posted some material long time ago about the Chilean brine resources in Atacama desert.
Post #:41089141.
Those lithium resources in Atacama was grabbed by Pinochet family long time ago.The principal stock holder of SQM is Julio Ponce Lerou, the son-in-law of the late dictator Pinochet.SQM is currently under indictment and investigation for diverting funds to different politicians in Chile.The SQM Case is closely related to the Penta Case, since defendants from both cases overlap and it is the same type of crime. So it's also called the Penta-SQM Case. This case includes tax fraud and violations of political campaign laws. Different persons, either politicians or their advisers or even family members,created fake invoices which SQM then paid. It is alleged thatthose who created these fake invoices then passed those funds onto political parties in violation of campaign finance laws.So they were acting on behalf of the politicians, without the politicians being involved directly.....It all looks legal and nicely designed corporate operations doesn't it.
Good on you Albemarle...
Nice operations all around..!
It's not going be so easy to swallow LTR.
Don't worry.
ALSO;
LITHIUM BRINE PRODUCED BY SQM & ALBEMARLE FROM ATACAMA DESERT IS NOT SOCIALY SUSTAINABLE - NOT ESG COMPLIENT You will see (some of you already know I am sure) when you read the "S" Social criteria of the ESG which examines how that criteria manages thecommunities where it operates as well as others. The indigenous people of Atacama desert say that water belongs to them, but the PINOCHET'S CONSTUTION of Chile says the brine is a not water but it's a commodity.
That constitution was written in fascist Pinochet times (between 1970-1990) when his son-in-low got the lion's share in SQM and SQM got the mining rights in that region of Atacama. Same for Albemarle, the US company, they got the other lion's share at Atacama because the US was backing up the fascist Pinochet regime. Every miner should understand that ESG is not only being as green as possible, it's about being socially responsible and sustainable.
(20min delay)