FMC Corporation announced that it has revised its operating agreements in Argentina, allowing it to expand production and completing an important step toward the intended separation of its lithium business in 2018.
The revised operating agreements update FMC royalties and corporate social responsibility (CSR) programs in Argentina and eliminate restrictions that may have prevented a change of control of FMC Lithium. The revised royalties and CSR programs are at levels generally consistent with current commitments.
FMC reconfirms that it will at least double its production in Argentina during the next several years, with total annual output expected to exceed 40,000 metric tons of lithium carbonate equivalents (LCE). In that order, it will invest US$300 million to reach that production level.