Core Lithium halts mining on “tough” market conditions
It also flagged a write-down on the value of its assets as the effect of weak prices for the battery material becomes evident among producers.
It also flagged a write-down on the value of its assets as the effect of weak prices for the battery material becomes evident among producers.
Australia, which mined about half the world’s lithium in 2022, forecasts the spot price of spodumene will fall to $2,200 per tonne in 2025.
Baseline capital expenditures are estimated at $749 million, including $44 million to be spent on additional exploration and permitting.
The company completed 34,238 metres of drilling at the Yellowknife project last year.
Lithium miners and the government have been holding meetings to explore potential public-private partnerships.
Tama Atacama is one of the largest lithium brine projects in South America, covering about 1,200km2 across three Chilean salt flats.
Highlights of the results include 3 metres grading 1.8% lithium oxide.
SQM said it would partner with Codelco for the future development and production of lithium in the Atacama salt flat.
The two companies agreed to form a new company in which Codelco will have a majority stake.
It is acquiring a 75% stake in the Adina East lithium project in the battery metals-rich James Bay region of Quebec.