The shares will be sold to MIND ID, Indonesia's state mining holding company.

Aneka Tambang, Indonesia Battery Corporation and a consortium led by LG are building the facility as part of a $9.8 billion “grand package” to build battery production onshore.

Chinese companies likely to apply to the LME include Tsingshan Group, China's largest nickel producer.

Despite the personnel moves, there aren’t yet signs of permanent retrenchment among hedge funds in metals.

A successful move into the DLE sector would likely cement Albemarle's dominance in the fast-growing industry.

DSO, which is a relatively unprocessed ore and is easier to produce, is expected to provide an early source of revenue for the company.