Albemarle joins newly formed lithium industry body

- The International Lithium Association (ILiA) said it added Albemarle Corp as a founding core member to the newly formed industry association.

Albemarle, the world's largest producer of lithium for electric vehicles, is the latest to join ILiA after mining giants including Rio Tinto and BASF.

ILiA was formed earlier this year to address common challenges in the lithium supply chain amid a rise in demand for the battery metal for electric vehicles, according to the trade group.

The five original founding members of ILiA - SQM, Ganfeng Lithium AMG Brazil, Orocobre and Pilbara Minerals - account for more than half of the world's lithium output.