Chile gives Albemarle option to boost lithium quota by 240 000 metric tons

Chile's economic development agency CORFO on Wednesday said it reached an agreement with Albemarle to establish an option for the US company to increase its production quota by 240 000 metric tons of lithium metal equivalent (LME).

The increase would raise Albermarle's production quota by close to 50%, from about 460 000 metric tons of LME currently.