CHARLOTTE, N.C., July 21, 2016 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB) announced today that it's wholly owned subsidiary, Rockwood Lithium Ltda., and Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) have reached an agreement to work together to safeguard the ecosystem in the Salar de Atacama.
Specifically, this joint effort will involve the development of a coordinated and informed environmental administration with the goal to protect the sensitive systems in the Salar de Atacama. These efforts will be executed through the implementation of common technical tools to further enrich the knowledge of this ecosystem. As part of this agreement, SQM has agreed that it will not pursue its complaints against Rockwood Lithium Ltda.'s environmental approval RCA 21/2016, which approved the increase in brine extraction rates for expansion of battery grade lithium carbonate production.
"At Rockwood Lithium we have always stated that the future of local business should be based on a collaborative model among the Government, private entities and local communities. This agreement focuses on a sustainable operation of the Salar de Atacama that considers the highest standards while looking towards the future," said Stephen Elgueta, Country Manager of Rockwood Lithium Ltda.
Patricio de Solminihac, CEO of SQM also commented: "We have always strived to achieve the highest standards in our operations in order to protect the surrounding areas from an environment standpoint. This agreement with Rockwood Lithium Ltda. will enable us to be more effective in our ongoing efforts to achieve these high standards at the Salar de Atacama operations and, at the same time, to be confident that these operations are being developed with the necessary care for the environment."
About Albemarle Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC, is a global specialty chemicals company with leading positions in lithium, bromine, refining catalysts and applied surface treatments. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to aerospace and electronics. Working side-by-side with our customers, we develop value-added, customized solutions that make them more competitive. Our solutions combine the finest technology and ingredients with the knowledge and know-how of our highly experienced and talented team of operators, scientists and engineers.
Discovering and implementing new and better performance-based sustainable solutions is what motivates all of us. We think beyond business-as-usual to drive innovations that create lasting value. Albemarle employs approximately 6,900 people and serves customers in approximately 100 countries. We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.