Albemarle Says Chile Lithium Plant Stable as Authorities Probe Incident

Albemarle Corp. said its La Negra lithium conversion plant in Chile is operating normally after an incident last week that has prompted a formal investigation by Chile’s labor inspector and mining regulator. The company told Reuters there were no injuries and it does not expect any effect on sales of lithium, a key input for battery manufacturing. Local lawmaker Jaime Araya requested the probe after receiving a complaint that a pipe carrying acid had burst at the facility near Antofagasta. People familiar with Albemarle’s operations said the problem was limited to a single tank, and described such investigations as standard procedure. The incident comes as the Charlotte, North Carolina–based miner reshuffles its leadership, announcing the departure of Chief Operating Officer Netha Johnson in a broader management overhaul. Albemarle shares slipped to roughly $80.14 in midday New York trading on Tuesday.