What progress has Albemarle made in Chile over the past 12 months?

We successfully consolidated operational and safety improvements made in prior years, leading to record production levels at both the Salar de Atacama and La Negra sites. One of the most impactful initiatives was our cost reduction program, which lowered costs by over 15% and delivered more than US$50 million in savings. These gains were driven by a robust portfolio of improvement projects implemented across our operations. How does Albemarle plan to maintain its leadership in the global lithium market amid new entrants?

In Chile, Australia, China, and the US, we offer a diverse portfolio that includes both battery and technical grade lithium products. Our strategy focuses on consolidating existing assets, optimizing operations, and reducing the capital intensity of future growth. This is supported by high-quality, low-cost resources—whether it’s our brine assets in Chile or our hard rock operations in Australia—which allow us to maintain a competitive and sustainable position over the long term. What is Albemarle’s strategy following Chile’s decision to open more salt flats for exploration?

We view the government’s lithium strategy as a positive step toward securing Chile’s leadership in this sector. Over 40 years ago, we were the first to develop the lithium industry in Chile with Corfo, and we are proud of our pioneering role at Salar de Atacama. How is Chile positioned globally in lithium production, particularly concerning sustainability and geopolitics?

Chile remains a key player in the global lithium supply chain, and we believe its position will strengthen if it addresses key execution challenges. For Albemarle, sustainability is non-negotiable. Every project we pursue must meet high environmental and social standards. In northern Chile, where water scarcity is a serious concern, we are committed to applying technologies that minimize freshwater usage. Our capital investments are designed with recovery systems, energy efficiency, and long-term environmental impact in mind.

As part of this commitment, Albemarle became the first lithium producer—and only the third mine site globally—to have an audit report published under the Initiative for Responsible Mining Assurance (IRMA), reflecting our dedication to transparency and continuous improvement.

Chile has a significant opportunity to lead, thanks to its resource base and infrastructure, but permitting, execution, and sustainable operation will be the differentiators. We believe Chile can maximize its lithium potential over the next decade, but this requires a strategic view. What importance do Albemarle’s apprenticeship programs and gender inclusion initiatives have in Chile?

At Salar de Atacama, approximately 30% of our workforce comes from local indigenous communities. We are also making steady progress in gender inclusion. Female representation has grown from 15% to nearly 20% over the last few years, and our executive team has gender parity. What would you like the incoming Chilean government to prioritize in lithium policy?

We value the fact that lithium has become a central pillar of Chile’s national strategy. What we hope to see from the next government is a continuation of that focus, along with faster and more predictable permitting processes. To align with global demand for electric vehicles and energy storage, we need to move now on projects that will come online in 5 to 10 years. Is Albemarle developing Direct Lithium Extraction (DLE) technology internally or through partnerships?

Over the past decade, we evaluated many potential technologies for DLE at Salar de Atacama. We are now piloting the most promising options at our US$30 million facility in La Negra, one of the most advanced pilot plants globally. Our approach is resource-specific, and we are not just adopting technology but adapting it to the unique characteristics of Salar de Atacama. We are now in the final phase of optimization, and the focus is on building a complete, sustainable, and efficient system, not just an extraction process. What are Albemarle’s key priorities and projects in Chile for 2025 and beyond?

Our top priority is to consolidate recent expansions at La Negra and Salar de Atacama. We are focused on maximizing efficiency and yields, continuously improving safety, and lowering operating costs. In Chile specifically, our major initiative is the flexible and scalable implementation of DLE operation at Salar de Atacama pending permitting and community collaboration.