© Reuters. FILE PHOTO: A sign at the approach road leads to Albemarle’s lithium evaporation ponds at its facility in Silver Peak, Nevada, U.S., January 9, 2019. REUTERS/Ernest Scheyder
(Reuters) – Albemarle (NYSE:) Corp, one of the world’s biggest producers of lithium, said on Wednesday its quarterly profit more than doubled as demand rose for the metal used in electric-vehicle batteries.
The Charlotte, North Carolina-based company posted a net income of $253.4 million, or $2.15 per share, for the first quarter ended March 31, compared with $95.7 million, or 84 cents per share, a year earlier.
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