The corporate additionally has revised the timing of two lithium carbonate initiatives at Argentina’s Salar del Hombre Muerto. Slightly than execute each on the identical time, the initiatives will now be accomplished sequentially.
The strikes will lower Arcadium’s capital spending by an estimated $500 million over the following two years, in keeping with the earnings launch. The corporate has no plans to delay improvement of its Nemaska Lithium venture in Canada.
Arcadium nonetheless sees long-term demand for the steel intact, however “the market is clearly indicating that the trade doesn’t want so as to add provide on the identical tempo as beforehand anticipated,” chief govt Paul Graves mentioned within the launch.
(By Yvonne Yue Li)
Learn Extra: Arcadium acquires Li-Metallic’s expertise, pilot plant in $11 million deal