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Albemarle is one of the largest producers of lithium in the world. The metal is a vital component in high-tech batteries, like the ones that are increasingly finding their way into electric vehicles. That said, lithium is a commodity subject to often unpredictable investor sentiment. That's been very bad news of late, but if long-term demand expectations play out as hoped Albemarle could still turn out to be a millionaire-maker stock.
For starters, the company doesn't just mine for lithium. It has two other divisions as well: One makes bromine, a flame retardant used in electronics and other areas, and the other makes catalysts, primarily for the energy industry. These two divisions aren't small -- combined, they account for roughly 60% of Albemarle's revenue. Both have been performing pretty well lately, but the big picture here is that the company is using these operations as the financial foundation from which to expand in lithium.