SQM warns of further lithium price drop, coronavirus impact
The world’s No. 2 lithium miner saw profits drop 38% in Q4 2019 and said sales to China in the first months of 2020 could be hit by the virus.
The world’s No. 2 lithium miner saw profits drop 38% in Q4 2019 and said sales to China in the first months of 2020 could be hit by the virus.
Revenues for global energy storage market to grow at 15% per year through 2035, says new study.
Production at NAL was halted early last year, and in May the Québec Superior Court ended creditor protection.
A sale and investor solicitation process will begin later this month.
The California-based company developed an ion exchange technology for lithium extraction from brine resources.
The company reported an 87% fall in quarterly adjusted profit on Thursday.
Albemarle produces lithium in Chile and Australia and sends it to China for final processing.
The fund's investors include Jeff Bezos and Jack Ma.
Lithium companies in the past year have been producing more than automakers currently need, denting prices.
A deterioration in the global economic outlook has also led the company to scale back a planned expansion of its manganese mining operation in Gabon.