Albemarle Corp.

Albemarle Corp. is a senior lithium producer headquartered in Charlotte, United States, operating primarily in USA and Australia. The company's portfolio consists of 8 projects, comprising 6 operating mines, 1 development, and 1 advanced exploration project. Key assets include Greenbushes, Salar De Atacama, Wodgina, and Kings Mountain. The company operates as a global developer and manufacturer of highly engineered specialty chemicals, transforming essential resources into critical ingredients for diverse end-markets. Its business model is centered on leveraging leading process chemistry, high-impact innovation, and a customer-centric approach to maintain a leading position in its industries. A key operational characteristic is the use of an international strategic account program with cross-functional teams to manage relationships with large global customers, emphasizing value creation and post-sale service. The organization recently transitioned its operating structure from a global business unit model to a fully integrated functional model, a change designed to enhance agility and deliver significant cost savings. This integrated approach is complemented by a separate, wholly-owned subsidiary structure for its Ketjen business. The company's competitive position is supported by its ability to provide technical services, including the handling and use of reactive products, and offering recycling services for certain by-products. A significant portion of its business is conducted internationally, with sales and technical personnel serving a global customer base, supplemented by specialized sales representatives where necessary.

Strategic focus centers on optimizing the cost structure and enhancing long-term competitiveness in response to changing end-market conditions. A comprehensive review of the cost and operating structure was initiated to unlock near-term cash flow and drive long-term value creation, involving the re-phasing of organic growth investments and deferring spending on certain projects. The enterprise's growth depends on its ability to gauge the direction of commercial and technological progress in key end markets and to successfully fund, develop, and market products accordingly. A core component of this strategy is sustained investment in research and development to develop innovative chemistries and technologies through both process and new product development. The organization aims to introduce value-added products and proprietary processes, including an emphasis on green chemistry technologies that minimize waste and the use of raw materials and energy. The company also pursues strategic partnerships and long-term agreements with key customers to secure demand and collaborate on technology for next-generation products, such as safer and more energy-dense batteries.

Executive leadership is headed by a Chairman and Chief Executive Officer with over 25 years of industry experience, including prior roles as CEO of a global engineering and construction contractor and as a member of the executive board of an industrial gases leader. The Executive Vice President and Chief Financial Officer brings over 20 years of progressive leadership experience from a major global materials science company. Board oversight is structured through specialized committees, including an Audit and Finance Committee that oversees cybersecurity and an Executive Compensation and Talent Development Committee that evaluates CEO performance and approves compensation structures for senior management. The governance framework includes a formal Code of Conduct applicable to all directors, officers, and employees, which is publicly available. The company's incentive program, overseen by the board committee, is designed to align executive compensation with the achievement of annual goals and strategic initiatives that drive long-term shareholder value. This structure ensures that key employees are incentivized to execute on both short-term financial and strategic objectives.

The organization has established a long-term ambition to achieve net-zero carbon emissions by 2050, supported by interim targets. These include reducing the scope 1 and 2 carbon-intensity of its Specialties and Ketjen businesses by 35% by 2030 from a 2019 baseline and growing its Energy Storage business in a carbon-intensity neutral manner through 2030. Water stewardship goals include reducing the intensity of freshwater usage by 25% by 2030 in areas of high water risk. The company's human rights policy is guided by its Code of Conduct and aligns with the International Bill of Human Rights and the International Labor Organization’s Declaration on Fundamental Principles and Rights at Work. Specific commitments are made to the rights of Indigenous Peoples through due diligence, formal community agreements, and accessible grievance mechanisms. Workplace safety is a core value, with a comprehensive set of health and safety policies and an internal incident management system that allows for anonymous reporting. The company maintained an OSHA occupational injury and illness incident rate of 0.13 in 2024, and health and safety metrics are integrated into its annual incentive plan.

In 2024, the company transitioned its operating structure from two core global business units to a fully integrated functional model, while its Ketjen business continues to be operated as a separate, wholly-owned subsidiary. This change was designed to increase agility and deliver cost savings. A significant joint venture restructuring occurred in 2023 with Mineral Resources Limited, which resulted in the company acquiring the remaining 40% ownership of the Kemerton processing facility, bringing its ownership to 100%. Following this transaction, the MARBL joint venture was reconfigured so that each partner owns 50% of the Wodgina mine, with Mineral Resources Limited serving as the operator. In 2022, the company completed the acquisition of all outstanding equity of Guangxi Tianyuan New Energy Materials Co., Ltd., a transaction that added a recently constructed processing plant to its portfolio. The company also participates in a 49%-owned unconsolidated joint venture, Windfield Holdings Pty. Ltd., which owns Talison Lithium Pty. Ltd. Another key structural element is a 50% interest in Jordan Bromine Company Limited, a consolidated joint venture established in 1999.