China’s Tianqi Lithium Issues Profit Warning and Halts Expansion

Date:

Share post:


(Bloomberg)–Tianqi Lithium Corp alerted that it anticipates to add a backside line of as excessive as 8.2 billion yuan ($ 1.1 billion) for 2024, and is stopping a development job in Australia as a decline within the battery steels markets drags out.

Most Read from Bloomberg

A downturn in lithium prices added to a pointy lower in working productiveness all through 2024, additionally as manufacturing and gross sales of lithium objects expanded, the enterprise claimed in a notification to financiers onThursday It’s moreover anticipating a pointy lower in income occurring from its monetary funding in Chilean lithium producer Sociedad Qu ímica y Minera de Chile, it claimed.

The enterprise has really moreover decided to cease constructing on a 2nd meeting line at its Kwinana lithium refinery in Western Australia, which it possesses with Australian miner IGO Ltd., it claimed in a unique declaration.

Most Read from Bloomberg Businessweek

© 2025 Bloomberg L.P.



Source link

spot_img

Related articles

HP stockpiling pc programs prematurely of attainable Trump tolls: CHIEF EXECUTIVE OFFICER

DAVOS, SWITZERLAND– HPInc (HPQ) is signing up with an inventory of buyer enterprise stockpiling gadgets prematurely...

Manchester United vs Rangers LIVE! Europa League swimsuit stream, latest score and goal updates immediately

Manchester United vs Rangers LIVE! The Europa League hosts yet one more eagerly-anticipated ‘Battle of Britain’ conflict at...

Alliant Audiences Now Available in Experian’s New Data Marketplace – London Stock Exchange News Today

This web site aggregates information articles from varied sources for informational functions. We don't declare possession of...

Consumer assumptions for financial scenario dive to ‘new low’ in the course of work cuts

Consumer assumptions for the financial scenario have truly dived because the government offers with ongoing stress over...