Miner sacrifices development spending for savings as lithium glut continues
Arcadium Lithium has responded to the ongoing rout in prices for its products by planning to trim its spending by a further US$500 million over the next two years, with the Galaxy and Sal de Vida assets it inherited from Allkem likely to be the main casualties.
Rising productionDespite the weak price environment, Arcadium isn't joining US-based Albemarle in reducing production but is instead targeting a 25% increase in combined lithium hydroxide and carbonate sales volumes for the full year compared to 2023. A further 25% increase in 2025 on 2024 numbers is also on the cards, driven by expansions at Olaroz and Fenix in Argentina, Bessemer City in the US, Zhejiang in China, and Naraha in Japan.
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