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outlook?","what-does-albemarle-s-idling-of-kemerton-mean-for-australia-s-lithium-outlook-","article/what-does-albemarle-s-idling-of-kemerton-mean-for-australia-s-lithium-outlook-",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":787,"featured":51,"reporter":788,"component":798,"seo_title":799,"categories":800,"visibility":806,"data_vis_image":807,"featured_image":810,"seo_description":814,"formattedDate":815,"formattedArticleDate":816},"713d3573-c124-4fe3-bcf7-8883de3fc8c2","2026-02-19 00:00",[550,553,556],{"slug":551,"name":552},"albemarle","Albemarle",{"slug":554,"name":555},"australia","Australia",{"slug":557,"name":558},"china","China",[560],{"slug":561,"name":562,"content":563},"matthew-bird","Matthew Bird",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Senior Editor - Supply Chains & Data Visualisation",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":570,"content":571},"doc",[572,601,637,645,656,664,674,710,718,726,734,742,750,758,766,774,782],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576,584,596],{"text":577,"type":578,"marks":579},"Albemarle plans to idle its 25ktpa capacity Kemerton lithium hydroxide processing plant in ","text",[580],{"type":581,"attrs":582},"textStyle",{"color":583},"#000000",{"text":585,"type":578,"marks":586},"Western Australia",[587,594],{"type":588,"attrs":589},"link",{"href":590,"uuid":591,"anchor":49,"target":592,"linktype":593},"/article/what-does-labors-australian-election-victory-mean-for-critical-minerals-and-evs","e8f13061-ae86-4f61-bc9b-5c935829b61a","_self","story",{"type":581,"attrs":595},{"color":583},{"text":597,"type":578,"marks":598},", citing “challenges facing Western hard-rock lithium conversion operations”.",[599],{"type":581,"attrs":600},{"color":583},{"type":573,"attrs":602,"content":603},{"textAlign":49},[604,609,618,623,632],{"text":605,"type":578,"marks":606},"Kemerton ",[607],{"type":581,"attrs":608},{"color":583},{"text":610,"type":578,"marks":611},"processes spodumene",[612,616],{"type":588,"attrs":613},{"href":614,"uuid":615,"anchor":49,"target":592,"linktype":593},"/article/australia-looks-to-production-tax-credits-to-incentivise-processing-build-out","fe4b8b43-46c6-467e-b1d1-9a67a966de3d",{"type":581,"attrs":617},{"color":583},{"text":619,"type":578,"marks":620}," from Albemarle’s Greenbushes mine into lithium hydroxide. In 2025, it produced an estimated 7.5kt LCE and was forecast to produce 22kt LCE in 2026. ",[621],{"type":581,"attrs":622},{"color":583},{"text":624,"type":578,"marks":625},"Expansions",[626,630],{"type":588,"attrs":627},{"href":628,"uuid":629,"anchor":49,"target":592,"linktype":593},"/article/albemarle-plans-to-double-kemerton-hydroxide-capacity-as-australian-lithium-chemical-production-ramps-up","8882b7d3-3d5c-4d94-bc97-609778b8b1fa",{"type":581,"attrs":631},{"color":583},{"text":633,"type":578,"marks":634}," planned for 2029 could have added 75ktpa capacity.",[635],{"type":581,"attrs":636},{"color":583},{"type":573,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":578,"marks":642},"The idling of Kemerton materially weakens the near-term outlook for Australian lithium chemical refining as Kemerton was forecast to account for 46% of the country’s lithium chemical output in 2026 and had the potential to increase this to 49% by 2036.",[643],{"type":581,"attrs":644},{"color":583},{"type":646,"attrs":647},"blok",{"id":648,"body":649},"471a2c9b-a228-498a-ae45-62650b50911e",[650],{"id":651,"_uid":652,"type":653,"component":654,"fixed_height":655,"use_fixed_height":50,"fixed_height_mobile":655,"fixed_height_tablet":655},"27698610","i-08dce1d2-437a-4fe0-aa4e-6d3d38ab4eb7","visualisation","ContentFlourish","",{"type":573,"attrs":657,"content":658},{"textAlign":49},[659],{"text":660,"type":578,"marks":661},"The announcement increases scrutiny on Australia’s broader refining ambitions. The Tianqi/IGO Kwinana refinery has faced multi-year commissioning challenges, cost overruns and operating losses, operating below design capacity for extended periods. In addition, continued growth in LFP cathode demand supports lithium carbonate more directly than lithium hydroxide, further compressing incentives for hydroxide capacity outside established hubs.",[662],{"type":581,"attrs":663},{"color":583},{"type":665,"attrs":666,"content":668},"heading",{"level":667,"textAlign":49},2,[669],{"text":670,"type":578,"marks":671},"How does this impact Albemarle’s overall lithium operations?",[672],{"type":581,"attrs":673},{"color":583},{"type":573,"attrs":675,"content":676},{"textAlign":49},[677,682,691,696,705],{"text":678,"type":578,"marks":679},"Prior to the announcement, Albemarle was forecast to produce ~192kt LCE of lithium chemicals across operations in China, ",[680],{"type":581,"attrs":681},{"color":583},{"text":683,"type":578,"marks":684},"Chile",[685,689],{"type":588,"attrs":686},{"href":687,"uuid":688,"anchor":49,"target":592,"linktype":593},"/article/lithium-prices-react-to-news-of-chilean-shutdown-but-real-supply-impact-may-be-limited","71b94b51-59c4-4312-b0f7-d9f7a94f1d4d",{"type":581,"attrs":690},{"color":583},{"text":692,"type":578,"marks":693},", Australia and the ",[694],{"type":581,"attrs":695},{"color":583},{"text":697,"type":578,"marks":698},"US",[699,703],{"type":588,"attrs":700},{"href":701,"uuid":702,"anchor":49,"target":592,"linktype":593},"/article/twenty-fold-increase-in-us-lithium-chemical-production-forecast-by-2035","418b35bc-dd2f-4154-9ce0-58fcefd2aa39",{"type":581,"attrs":704},{"color":583},{"text":706,"type":578,"marks":707},". Kemerton, its only Australian chemicals operations, accounted for 11% of this. China was set to account for 51% of the group’s chemical output.",[708],{"type":581,"attrs":709},{"color":583},{"type":573,"attrs":711,"content":712},{"textAlign":49},[713],{"text":714,"type":578,"marks":715},"By 2036, Albemarle had the potential to reach 375kt of chemical production with Kemerton accounting for 23% of this, assuming it succeeded in delivering the asset’s planned expansions – a feat that had been looking increasingly unlikely in recent quarters.",[716],{"type":581,"attrs":717},{"color":583},{"type":665,"attrs":719,"content":720},{"level":667,"textAlign":49},[721],{"text":722,"type":578,"marks":723},"Could shipping concentrate to China be more cost effective than converting in Australia?",[724],{"type":581,"attrs":725},{"color":583},{"type":573,"attrs":727,"content":728},{"textAlign":49},[729],{"text":730,"type":578,"marks":731},"According to Benchmark’s Conversion Cost Calculator, Chinese conversion costs for lithium hydroxide range from $3–4/kg. While Albemarle does not disclose asset-specific OPEX figures, it did cite a $4–5/kg difference in cost structures between China and Western Australia in recent disclosures. As a point of comparison, conversion costs at IGO and Tianqi’s troubled Kwinana plant averaged $11.4/kg over 2025 providing another point of comparison to highlight the challenges faced by Western Australian converters. This material cost gap versus established Chinese converters reflects higher labour, energy, waste management, and reagent inputs.",[732],{"type":581,"attrs":733},{"color":583},{"type":573,"attrs":735,"content":736},{"textAlign":49},[737],{"text":738,"type":578,"marks":739},"Albemarle operates integrated conversion facilities in China with established operating expertise and lower unit costs. Under current market conditions, allocating Australian spodumene into lower-cost integrated hubs improves group-level margin optimisation.",[740],{"type":581,"attrs":741},{"color":583},{"type":573,"attrs":743,"content":744},{"textAlign":49},[745],{"text":746,"type":578,"marks":747},"With spodumene around ~US$2,000/t SC6, lithium carbonate at ~US$18,000/t and lithium hydroxide at ~US$16,000/t, upstream concentrate economics remain robust, though the available chemical margin appears better captured in lower-cost jurisdictions, particularly where conversion is integrated with upstream supply.",[748],{"type":581,"attrs":749},{"color":583},{"type":573,"attrs":751,"content":752},{"textAlign":49},[753],{"text":754,"type":578,"marks":755},"Assuming an overall $4–6/kg discount to Australian conversion, US$100m in savings would be realised after 17–25kt of lithium hydroxide production at its Chinese operations versus Kemerton. Shipping spodumene concentrate from Albemarle’s Greenbushes plant to its Chinese operations instead of refining locally would add only around $0.5–1/kg to final product costs. These potential savings make for a compelling case for Albemarle’s decision, even considering a US$150-250m bill for idling the Kemerton plant.",[756],{"type":581,"attrs":757},{"color":583},{"type":665,"attrs":759,"content":760},{"level":667,"textAlign":49},[761],{"text":762,"type":578,"marks":763},"What’s the impact on the global lithium market?",[764],{"type":581,"attrs":765},{"color":583},{"type":573,"attrs":767,"content":768},{"textAlign":49},[769],{"text":770,"type":578,"marks":771},"Globally, the impact is limited. Benchmark’s pre-announcement forecast showed ~973kt LCE of chemical output from spodumene and petalite in 2026, rising to ~1.96Mt by 2036 with Kemerton and all its expansions potentially accounting for up to 4% of this. The announcement also doesn’t impact upstream assets, leaving the overall market balance unchanged.",[772],{"type":581,"attrs":773},{"color":583},{"type":573,"attrs":775,"content":776},{"textAlign":49},[777],{"text":778,"type":578,"marks":779},"The move limits potential IRA-compliant lithium hydroxide output from Australia. Foreign Entity of Concern restrictions have not created a sustained pricing premium sufficient to overcome the structural cost disadvantage of Western refining. Any compliance premium currently available does not appear large enough to justify continued standalone operation at Kemerton. Comments in Albemarle’s Q4 2025 earnings call further underscore this, citing material and sustained bifurcation of China and ex-China pricing as a requirement to resume operations out of Kemerton.",[780],{"type":581,"attrs":781},{"color":583},{"type":573,"attrs":783,"content":784},{"textAlign":49},[785],{"type":786},"hard_break","Albemarle plans to idle its 25ktpa capacity Kemerton lithium hydroxide processing plant in Western Australia, citing “challenges facing Western hard-rock lithium conversion operations”.\n\nKemerton processes spodumene from Albemarle’s Greenbushes mine into lithium hydroxide. In 2025, it produced an estimated 7.5kt LCE and was forecast to produce 22kt LCE in 2026. Expansions planned for 2029 could have added 75ktpa capacity.\n\nThe idling of Kemerton materially weakens the near-term outlook for Australian lithium chemical refining as Kemerton was forecast to account for 46% of the country’s lithium chemical output in 2026 and had the potential to increase this to 49% by 2036.",[789],{"slug":790,"name":791,"content":792},"cameron-perks","Cameron Perks",{"job_title":793,"image":794,"bio":796,"linkedin":797,"markets_covered":8},"Product Director - Lithium",{"filename":795},"https://a.storyblok.com/f/287943243085208/512x512/5504398139/cam-perks.png","Dr Cameron Perks is a leading global lithium expert and currently serves as Product Director for Lithium at Benchmark Mineral Intelligence. With over a decade of experience in opaque mineral markets, he has led market strategy, pricing analysis, and bespoke consulting for clients ranging from junior explorers to OEMs and institutional investors. He was previously a consultant at TZMI, a geologist with the Geological Survey of NSW, and holds a PhD in Environmental Engineering.","https://www.linkedin.com/in/cameronperks/","article","What does Albemarle idling Kemerton mean for Australian lithium?",[801,803],{"slug":802,"name":8},"lithium",{"slug":804,"name":805},"critical-minerals","Critical Minerals","private",{"id":49,"alt":49,"name":655,"focus":49,"title":49,"source":49,"filename":655,"copyright":49,"fieldtype":808,"meta_data":809},"asset",{},{"id":811,"alt":655,"name":655,"focus":655,"title":655,"source":655,"filename":812,"copyright":655,"fieldtype":808,"meta_data":813,"is_external_url":50},129069033659930,"https://a.storyblok.com/f/287943243085208/b37c3894ee/bm-kemerton-expansion-project-1.jpg",{},"Albemarle plans to idle its 25ktpa capacity Kemerton lithium hydroxide processing plant in Western Australia, citing “challenges facing Western hard-rock lithium conversion operations”.","Feb 19, 2026","19th February 2026",[],[],1783093099560]