Three big battery chemicals plants are set to come on line in coming months, while Germany's BASF is part of a pilot project to blend feeds used by battery makers.
Red Hill made the decision after it was unable to reach an agreement on further developing the project with an entity involving Aquila Resources and POSCO.
Gold prices will average a little above their current level of $1,830 an ounce for the remainder of 2021 before edging lower next year, a Reuters poll showed.