Germany’s Chancellor plans lithium deal with Serbia after Rio ruling
Olaf Scholz plans to visit Serbia this week to secure supplies of lithium that are critical for the nation’s energy transition and auto industry.
Lithium producer Livent Corp posted a nearly tenfold jump in quarterly profit on Tuesday, and raised its sales and profit forecast for the year due to rising prices of the electric-vehicle battery metal.
The company reported second-quarter net income of $60 million, or 31 cents per share, compared with $6.5 million, or 4 cents per share, in the year-ago quarter.
Livent announced a supply deal with General Motors Co last week. On Tuesday, Livent said that deal includes a $198 million prepayment from GM, to be made this year.
(By Ernest Scheyder; Editing by Jonathan Oatis)
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