Around 150 workers at CIMIC Group subsidiary UGL have been stood down at Albemarle's Kemerton lithium plant expansion, with the contractor's role on the project coming to an end.
US chemicals giant Albemarle has warned that low lithium prices could stifle investment decision-making but has faith in the long-term vision of the business.
The dramatic downturn in the battery metals sector has forced Albemarle to slash spending, with one casualty being the planned expansion of its Kemerton lithium refinery.
Albemarle won't make a binding offer for Liontown Resources and its Kathleen Valley project after billionaire Gina Rinehart bought up nearly 20 per cent of the business.
Lithium prices led Kemerton plant owner Albemarle Corporation to record US$2.4 billion ($3.67 billion) in sales in the June quarter, up 60 per cent from same quarter in 2022.
US-based Albemarle Corporation has forecast a growth in lithium demand and is planning an expansion to its global operations, including Western Australia.
Chris Ellison has no current plans to spin-off Mineral Resources' lithium business and remains keen to build a refinery at the company's Wodgina mine in the Pilbara.
