**Albemarle Corporation (ALB)** is increasing its global lithium conversion capacity in response to strong demand in the lithium battery market. In Q2, ALB reported an 11% year-over-year increase in Energy Storage sales volumes, bolstered by its integrated conversion facilities. The company’s Salar yield improvement project in Chile has reached an operating rate of 50-60%, while the pilot plant for direct lithium extraction (DLE) at Salar de Atacama has achieved lithium recoveries of over 90%. Full production at the CGP3 expansion at the Greenbushes spodumene mine in Australia is anticipated by Q1 2027.
**Sociedad Quimica y Minera de Chile S.A. (SQM)** also reported strong performance, achieving record lithium sales of over 84,000 metric tons in Q2, marking a 47% increase in its Nova Andino Litio business. The company submitted environmental documentation for its Salar Futuro project, a critical component of its growth strategy.
**Rio Tinto Group (RIO)** is progressing with its lithium projects in Argentina, including the Rincon Lithium Project, which is on schedule for first production in 2028. Notably, RIO has begun production at its Fénix expansion and Sal de Vida projects ahead of schedule. The company holds a 53.9% stake in the Nemaska Lithium project, which also aims for production in 2028.
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