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459 The Electric: Albemarle Cuts Lithium Production to Reduce Global Surplus

The Information
Steve LeVine @ The Information · 02/01/2024 07:30 EDT

The Electric: Albemarle Cuts Lithium Production to Reduce Global Surplus

U.S. mining company Albemarle and China’s Tianqi Lithium will cut production up to 13% at Australia’s giant Greenbushes lithium mine, in which they are joint venture partners, responding to a massive, yearlong drop in the price of the metal. In addition to the cuts, the two companies plan not to process all the lithium they do mine at Greenbushes, but to build stockpiles, further reducing the amount of the metal made available to the market.

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