Prices for the steel-making ingredient are down by 9.8% over a month ago and most of the massive projects expected to come on stream this year are not producing at full steam yet.
More than half of the world’s identified resources of the mineral are found in South America's "lithium triangle", a region where Canada's Wealth Minerals has been acquiring assets.
New report forecasts very tight market conditions as stocks drop to below 5% of consumption by the end of the decade compared to more than 11% this year.
Hochschild Mining PLC, which operates three mines in Peru and one in Argentina, has soared 460 per cent in 2016, beating every other company in the Bloomberg world index of 5,125 stocks.
The incident happened on Sep. 8, when a pipe carrying process solution in the heap leach area was struck by a large block of ice that had rolled down the heap leach valley slope, Barrick said.