Resource Extraction Payment Report
This report discloses the payments made by Albemarle Corporation to governments for the commercial development of minerals and which involve the exploration, extraction, processing and export of such minerals, or the acquisition of a license for any such activity. Unless the context otherwise indicates, the terms “Albemarle,” “we,” “us,” “our” or the “Company” mean Albemarle Corporation and its consolidated subsidiaries. Payments to the United States government (“U.S.”) include payments made only to the Federal government and not to state, local or tribal governments. Payments to foreign governments include payments to the national government as well as subnational governments under that foreign national government. All payments are reported in U.S. dollars. Payments that were made in currencies other than U.S. dollars have been converted to U.S. dollars using the weighted-average exchange rates for the period presented.
At December 31, 2023, we had the following mineral extraction projects:
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| Location / Project | | Business Segment | | Ownership % | | Resource | | Extraction Type / Method | | |
| Australia | | | | | | | | | | |
Greenbushes(a) | | Energy Storage | | 49 | % | | Lithium | | Hard rock / Open pit | | |
Wodgina(b) | | Energy Storage | | 50 | % | | Lithium | | Hard rock / Open pit | | |
| Chile | | | | | | | | | | |
| Salar de Atacama | | Energy Storage | | 100 | % | | Lithium | | Brine / Well | | |
| Jordan | | | | | | | | | | |
Safi(c) | | Specialities | | 50 | % | | Bromine | | Brine / Well | | |
| United States | | | | | | | | | | |
| Kings Mountain, NC | | Energy Storage | | 100 | % | | Lithium | | Hard rock / Open pit | | |
| Magnolia, AR | | Specialities | | 100 | % | | Bromine | | Brine / Well | | |
| Silver Peak, NV | | Energy Storage | | 100 | % | | Lithium | | Brine / Well | | |
(a) Payment information relating to the Greenbushes project is not disclosed in this report as the Company is not the operator of the project which is not consolidated in the Company’s financials.
(b) Payment information relating to the Wodgina project is not disclosed in this report as the Company is not the operator of the project which is proportionately consolidated in the Company’s financials.
(c) Joint venture with respect to which the Company is the operator; project is fully consolidated in the Company’s financials.
In addition, we own undeveloped land with access to a lithium resource in Antofalla, within the Catamarca Province of Argentina. Pursuant to Item 2.01(b)(1) of Form SD, we are delaying disclosing payment information related to exploratory activities at this project until our Resource Extraction Payment Report for the year ended December 31, 2024.
Project-level disclosure
The following table provides a breakdown of payments made by the Company to governments, by project and type of payment, for the year ended December 31, 2023 (in thousands):
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| Year ended December 31, 2023 |
| Taxes | | Commissions/Royalties | | Fees | | | | | | | | | | Community and Social Responsibility Payments | | Total |
| Chile | | | | | | | | | | | | | | | | | |
Salar de Atacama(a) | $ | 26,577 | | | $ | 980,558 | | | $ | — | | | | | | | | | | | $ | 42,724 | | | $ | 1,049,859 | |
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| Jordan | | | | | | | | | | | | | | | | | |
| Safi | 2,936 | | | 1,892 | | | 6,917 | | | | | | | | | | | — | | | 11,745 | |
| United States | | | | | | | | | | | | | | | | | |
Albemarle Corporation(b) | 182,170 | | | — | | | — | | | | | | | | | | | — | | | 182,170 | |
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| $ | 211,683 | | | $ | 982,450 | | | $ | 6,917 | | | | | | | | | | | $ | 42,724 | | | $ | 1,243,774 | |
(a) Includes commission paid to Corporación de Fomento de la Producción de Chile (CORFO) based on the sales price/metric ton on the amounts sold from the Company’s Chile operations as part of its mineral rights agreement with the Chilean government.
(b) Albemarle Corporation files a consolidated income tax return in the U.S., which includes all U.S. entities including the U.S. projects listed in the prior table. The U.S. Federal Government levies corporate income taxes at the consolidated group level rather than on a per-project basis. Accordingly, the Company has disclosed payments at the U.S. consolidated group level. The tax payments are related not to the individual projects but to the consolidated U.S. income of the Company.
Government-level disclosure
The following table provides a breakdown of payments made by the Company to governments, by level of government and type of payment, for the year ended December 31, 2023 (in thousands):
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| Year ended December 31, 2023 |
| Taxes | | Commissions/Royalties | | Fees | | | | | | | | | | Community and Social Responsibility Payments | | Total |
| Chile | | | | | | | | | | | | | | | | | |
Corporación de Fomento de la Producción de Chile (CORFO)(a) | $ | — | | | $ | 980,558 | | | $ | — | | | | | | | | | | | $ | — | | | $ | 980,558 | |
| Tesorería General de la República | 25,900 | | | — | | | — | | | | | | | | | | | — | | | 25,900 | |
Various local Chilean municipalities/communities(b)(c) | 677 | | | — | | | — | | | | | | | | | | | 42,724 | | | 43,401 | |
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| Jordan | | | | | | | | | | | | | | | | | |
| Income Tax Department | 2,936 | | | — | | | — | | | | | | | | | | | — | | | 2,936 | |
| Jordan Customs | — | | | — | | | 211 | | | | | | | | | | | — | | | 211 | |
| Ministry of Energy | — | | | — | | | 112 | | | | | | | | | | | — | | | 112 | |
| Ministry of Environment | — | | | — | | | 671 | | | | | | | | | | | — | | | 671 | |
| Ministry of Finance | — | | | 1,892 | | | — | | | | | | | | | | | — | | | 1,892 | |
| Ministry of Water and Irrigation | — | | | — | | | 2,393 | | | | | | | | | | | — | | | 2,393 | |
| Social Security | — | | | — | | | 3,530 | | | | | | | | | | | — | | | 3,530 | |
| United States | | | | | | | | | | | | | | | | | |
Internal Revenue Service(d) | 182,170 | | | — | | | — | | | | | | | | | | | — | | | 182,170 | |
| Total | $ | 211,683 | | | $ | 982,450 | | | $ | 6,917 | | | | | | | | | | | $ | 42,724 | | | $ | 1,243,774 | |
(a) Commission paid to CORFO based on the sales price/metric ton of the amounts sold from the Company’s Chile operations as part of its mineral rights agreement with the Chilean government.
(b) Taxes paid to Antofagasta, San Pedro, Las Condes and Sierra Gorda municipalities in Chile.
(c) As part of its mineral rights agreement with the Chilean government, the Company makes community and social responsibility payments to local communities in Chile to support items such as educational scholarships and local schools, cultural centers and events, environmental training, and hydrogeological and wastewater treatment projects, among other community support.
(d) Albemarle Corporation files a consolidated income tax return in the U.S., which includes all U.S. entities including the U.S. projects listed. The U.S. Federal Government levies corporate income taxes at the consolidated group level rather than on a per-project basis. Accordingly, the Company has disclosed payments at the U.S. consolidated group level. The tax payments are related not to the individual projects but to the consolidated U.S. income of the Company.
