Albemarle Corp (ALB) Q4 2019 Earnings Call Transcript

Albemarle Corp (ALB) Q4 2019 Earnings Call Transcript

[Operator Instructions] Please be advised that today's conference is being recorded.. I would now like to hand the conference over to your speaker today, Mr. Dave Ryan, Vice President, Corporate Strategy, Investor Relations.. Joining me on the call today are Luke Kissam, Chief Executive Officer; and Scott Tozier, Chief Financial Officer.. We also have Raphael Crawford, President, Catalysts; Netha Johnson, President, Bromine Specialties; and Eric Norris, President, Lithium, who will participate in the Q&A portion of the call.. Scott will give you an update on the financials, our cost savings program and our full-year 2020 guidance.. The Kemerton lithium hydroxide unit in Western Australia is targeted for commissioning during the latter half of 2021.. The joint venture has the resources and ultimately will have the conversion assets to annually produce 100,000 metric tons on an LCE basis, a battery-grade lithium hydroxide.. Keep in mind, that we are currently using less than 25% of our available lithium resources, which gives us the ability to respond quickly to support the lithium demand growth for at least the next 10 to 15 years.. To-date, we have reached agreement with all, but one of our contracted customers on one-year price concessions for 2020, which