Reported 3 months ago
Albemarle, the leading lithium producer, announced significant cost reductions due to plummeting lithium prices, which have dropped from $20 to approximately $12-15 per kilogram. After reporting a second-quarter loss, the company plans to review its cost structure, halt construction in Australia, and may implement further layoffs. Despite challenges in the electric vehicle market, Albemarle intends to maintain its long-standing dividend and expects demand for lithium to rebound by the end of the decade.
Source: YAHOO