Tianqi puts world’s biggest lithium plant expansion on hold
Tianqi poured cold water on celebrations to mark the start of production from the first stage at its Kwinana plant in Western Australia.
Tianqi poured cold water on celebrations to mark the start of production from the first stage at its Kwinana plant in Western Australia.
A bill allowing the expropriation of private companies involved in lithium mining in Chile was found to be unconstitutional.
Australian producers are now scrambling to cut supplies as prices plummet on falling demand in the world's top electric vehicle market.
Codelco has for years talked of getting into the lithium business.
Hotly anticipated by investors but opposed by environmental groups, the offering is planned to meet an expected surge in global demand.
Net loss for the six months ended June 30 was $171.9 million, compared with a profit of $11.5 million a year earlier.
Equity capital raised by lithium and cobalt explorers and developers down 95% in Q2 compared to last year.
China’s biggest lithium producer saw its first-half profits plunge 59%.
Prices for the battery metal have fallen by more than 40% over the past year, knocking top producers' profits and share price gains.
The moves reflect persistent weakness in lithium’s end market.