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more of the same ......Albemarle slashes 300 Australian jobs, shrinks giant lithium facilityAlbemarle, the world’s largest lithium producer, will shut half of its giant West Australian lithium processing facility, and stop construction to expand it, due to a sustained slump in the price of the key battery metal.The New York-listed lithium giant will slash 300 jobs as part of its aggressive move to immediately stop constructing the third production unit at the Kemerton facility, south of Perth, and place the second unit into care and maintenance... it would instead focus on ramping up unit 1 within the lithium hydroxide processing facility, which up to this point has failed to reach nameplate capacity.’...A spokesman for Albemarle in Australia insisted the US giant’s decision was due to market conditions and the commercial reality that lithium prices will stay lower for longer.“This has nothing to do with state and federal government policies,” "Unit 1 would benefit from the critical minerals production tax incentive when it came into effect.“It will also assist the company’s decision-making later in the decade when, subject to sustained price improvement, we look to resume operations at Train 2.”
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Albemarle, the world’s largest lithium producer, will shut half of its giant West Australian lithium processing facility, and stop construction to expand it, due to a sustained slump in the price of the key battery metal.
The New York-listed lithium giant will slash 300 jobs as part of its aggressive move to immediately stop constructing the third production unit at the Kemerton facility, south of Perth, and place the second unit into care and maintenance.
.. it would instead focus on ramping up unit 1 within the lithium hydroxide processing facility, which up to this point has failed to reach nameplate capacity.
’...
A spokesman for Albemarle in Australia insisted the US giant’s decision was due to market conditions and the commercial reality that lithium prices will stay lower for longer.
“This has nothing to do with state and federal government policies,” "Unit 1 would benefit from the critical minerals production tax incentive when it came into effect.
“It will also assist the company’s decision-making later in the decade when, subject to sustained price improvement, we look to resume operations at Train 2.”
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