(Bloomberg)–Tianqi Lithium Corp alerted that it anticipates to add a backside line of as excessive as 8.2 billion yuan ($ 1.1 billion) for 2024, and is stopping a progress job in Australia as a decline within the battery steels markets drags out.
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A downturn in lithium prices added to a pointy lower in working productiveness all through 2024, additionally as manufacturing and gross sales of lithium objects expanded, the enterprise claimed in a notification to financiers onThursday It’s moreover anticipating a pointy lower in income occurring from its monetary funding in Chilean lithium producer Sociedad Qu ímica y Minera de Chile, it claimed.
The enterprise has really moreover decided to cease constructing on a 2nd meeting line at its Kwinana lithium refinery in Western Australia, which it possesses with Australian miner IGO Ltd., it claimed in a unique declaration.
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