Tianqi Lithium warns of 2024 loss, halts Australia expansion
The Chinese miner warned that it expects to post a net loss of as much as 8.2 billion yuan ($1.1 billion) for 2024.
The Chinese miner warned that it expects to post a net loss of as much as 8.2 billion yuan ($1.1 billion) for 2024.
Global surplus is still expected for 2024 and 2025, according to Cochilco.
Lab assays revealed extensive lithium mineralization in the C-100 and Aldeia mining areas.
Authorities are negotiating contracts with European and Australian firms, according to president of state-owned lithium company YLB.
The miner cited a decline in value of its troubled Kwinana refinery, which is grappling with production delays and a lithium price slump.
The move is expected to become effective Jan. 23, subject to approvals such as a final court order from the Supreme Court of British Columbia.
The loan is nearly 50% larger than a conditional funding commitment made two years ago, and cannot be reversed by incoming President Donald Trump.
Rio Tinto Lithium would control the miner’s $2.5 billion Rincon project in Argentina but not its controversial Jadar project in Serbia.
Since December, Standard Lithium has operated a pilot DLE plant at its South West Arkansas project.
The deal would grant Zijin controlling rights in Zangge Mining, which operates in the mineral-rich western region of Qinghai.
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