Rock Teck advances site preparation for lithium converter project in Germany
Once complete, the Guben converter will be the first of its kind in Europe, with expected annual production of 24,000 tonnes of lithium hydroxide.
Mining equipment maker Joy Global (NYSE:JOY) logged Thursday a 65% decline in its fiscal first-quarter earnings, as demand for gear remains slow.
The Milwaukee-based company however, noted that maintenance revenue was picking up, as companies can no longer delay old equipment repairs and tune-ups.
“While the economic outlook is improving and should provide some demand catalyst, commodity oversupply and a depressed pricing environment are straining miner cash flows and slowing capital expenditures,” Joy Global Chief Executive Ted Doheny said in a statement.
The equipment supplier raised the low-end of its earnings guidance for the year, now anticipating $3.10 to $3.50 a share, up from $3 to $3.50. Joy also backed its revenue outlook.
Image courtesy Joy Global.
