- Write by:
-
Thursday, October 29, 2020 - 11:40:12 AM
-
692 Visit
-
Print
Mining News Pro - Dual listed lithium miner Orocobre has reported a fall in production for the three months to September, compared with the previous corresponding period, as Covid-19 restrictions took their toll.
Lithium production during the three months under review reached 2 352 t, down from the 2 511 t produced in the previous corresponding period, while sales volumes for the quarter was up by 112% quarter on quarter to 3 393 t.
Sales revenue for the same period was up by 68% to $10.5-million following the sale of excess inventory, while the average sales price achieve during the quarter was down 21% due to a strategic marketing decision to reduce excess inventory during July, significant market softness relating to Covid-19, and continued aggressive competitor pricing.
The ASX- and TSX-listed Orocobre told shareholders that lithium pricing appears to have reached a bottom, with realised prices for the second quarter expected to be higher than those achieved in the first quarter.
Meanwhile, the miner told shareholders that work on the Stage 2 expansion of the Olaroz project, in Argentina, continued during the quarter with a reduced workforce, with construction work at the end of the quarter achieving 43.8% completion.
Capital expenditure on the project at the end of the quarter reached $159-million.
The Stage 2 expansion project is expected to start production in 2023, ramping up to full capacity of 25 000 t/y of industrial-grade lithium carbonate by 2026.
Short Link:
https://www.miningnews.ir/En/News/606750
Battery metal prices are on the floor, and massive expansions by Chinese miners have been instrumental in driving them ...
Albemarle, the world’s largest producer of lithium for electric vehicle batteries, said on Wednesday that it will hold ...
Liontown Resources has entered into a $550 million debt facility agreement to fund the development of its Kathleen ...
Core Lithium produced 49,529 tonnes (t) of spodumene concentrate during the first half of the 2023–24 financial year (H1 ...
Copper and zinc miner Teck Resources is considering building a lithium-ion battery recycling facility in British ...
Australia’s Liontown Resources said on Wednesday it has entered a A$550 million ($363.2 million) debt facility for the ...
Pilbara Minerals said on Tuesday it has signed an agreement with Sichuan Yahua Industrial Group for the supply of ...
Ganfeng Lithium said on Tuesday it plans to buy a stake of at least 14.8% in a subsidiary of Lithium Americas Argentina ...
Canadian miner Frontier Lithium said on Monday it is forming a joint venture with Japanese trading house Mitsubishi to ...
No comments have been posted yet ...