Albemarle (ALB+4.5%) says it is interested in buying all or part of Tianqi Lithium's controlling stake in Australia's Greenbushes, the world's largest lithium mine.

China-based Tianqi, which owns 51% of Greenbushes to Albemarle's 49%, said last month it was exploring selling equity and assets, including Greenbushes, to lower debt.

"We're interested in it... but we're also mindful of the current market environment," Albemarle CEO Kent Masters said during the company's earnings conference call.

Also, CFO Scott Tozier said the company expects demand growth for lithium from the electric vehicle market will be pushed out by at least a year as consumer spending is hurt by the coronavirus.

Albemarle also is slowing work on lithium expansion projects to conserve cash and to reassess the demand requirement when the battery industry recovers, but it expects to stay reasonably close to previous timelines.

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