Shearman & Sterling advised global specialty chemicals company Albemarle Corporation in connection with its entry into a definitive agreement to acquire a 50 percent interest in Mineral Resources Limited’s Wodgina hard rock lithium project in Western Australia for a purchase price of US$1.15 billion. The companies are forming a joint venture to own and operate the Wodgina project to produce spodumene concentrate and battery grade lithium hydroxide. The transaction is expected to close in the second half of 2019.

The Team