Mineral Resources posts annual profit slump on weaker lithium prices
Mineral Resources reported a nearly 80% slump in its annual profit on Wednesday.
Mineral Resources reported a nearly 80% slump in its annual profit on Wednesday.
In response to the plunge in prices, the company in May revised next year’s lithium target lower by 20,000 tons to 100,000 tons.
In April last year, BYD was granted access to preferential prices for lithium carbonate produced by SQM.
Comet Lithium has initiated the planning and permitting process for its first drill program on the Liberty property.
The unit will be capable of processing over 200,000 liters of oilfield brine per day, a twofold increase from Volt's previous processing capacity.
The lithium miner posted underlying profit after tax of A$318 million for fiscal 2024.
Key moves in the mining sector.
The Keliber project is targeting production for 2026.
Chile's Atacama salt flat is sinking at a rate of 1 to 2 centimeters per year due to lithium brine extraction.
Patriot plans to make a final investment decision by 2027, begin construction in 2028, and start production in early 2029.