Australia’s lithium industry seen bearing brunt of supply cuts

a growing list of producers reviewing lithium operations in Australia amid a rout in prices for the battery raw material that is expected to result in more production cuts.

That comes a week after top lithium producer Albemarle announced job cuts at its lithium hydroxide plant in the state, where it paused an expansion as part of a “comprehensive review” of its global cost and operating structure. That leaves Australia where mines are not fully integrated, which means their owners are more exposed to a downturn in prices, said analyst Glyn Lawcock of investment bank Barrenjoey.

That would apply to Australia’s Liontown Resources which has just started production at its 500,000 tons per year Kathleen Valley project while Pilbara Minerals has also just completed an expansion.

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Bron: CNBC - 🏆 12. / 72 Lees verder »