What is the current status of the labor negotiations between Albemarle and its Chilean union?

Albemarle Corp. and union leaders in Chile have reached a preliminary wage agreement after nearly two months of negotiations, which could avert a planned strike; however, the agreement has not yet been finalized, as it requires ratification by the workers' assembly — votes are still pending across shifts, and the union chief stated, 'For now, I can only say we don't have a conclusion; negotiations are still ongoing.'

How does this situation compare to Albemarle's previous labor dispute in Chile?

This negotiation follows a 2021 strike at Albemarle's Salar de Atacama lithium operation in Chile, which was resolved with a 36-month labor contract; unlike that earlier strike, the current dispute remains unresolved pending worker ratification, and no operational impact has been reported so far, though the prior strike did not affect output at the La Negra chemical plant.