Lithium prices are continuing to slide. One of its biggest market players, Albemarle Corporation, is halting plans to expand operations in Australia.
Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) announced that it has added a lithium carbonate stage at its lithium extraction facility in Amargosa Valley, Nevada, part of its Angel Island Mine. The company highlighted that before it added this stage, concentrated lithium solutions from the pilot plant were treated by Saltworks at their Richmond, British Columbia facility to produce battery-quality lithium carbonate.
Albemarle Corporation NYSE: ALB is in the basic materials sector and is the 17th largest company in the U.S. chemical industry. The company is vastly underperforming its sector in 2024, down 40%.
Albemarle will halt the expansion of the Kemerton manufacturing plant in Australia as lithium prices remain weak and it reviews its cost structure. The lithium mining giant said it swung to a second-quarter net loss of $1.96 a share.
Despite growing interest in the green energy revolution, lithium stocks faced challenges this year. Lithium is cruical for lithium-ion batteries, which power everything from electric vehicles to smartphones.
Results demonstrate that treatment with 374Water's AirSCWO technology achieved >99.999% destruction of HQ-115, a PFAS additive used commercially in Lithium-ion batteries. Battery manufacturing and recycling industries represent over $91 billion in global opportunity.
European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTCQX:EMHLF) is revising the timeline for the completion of the Definitive Feasibility Study (DFS) and therefore constriction of its Cinovec Lithium Project. The revision comes as the Czech-based lithium processing plant's location moves from Dukla to Prunéřov.
Lithium prices are struggling at multi-year lows, forcing some miners to consider closing down mines and delaying projects. But I'd use that as a reason to buy beaten-down lithium stocks for the long term.
Tesla's (NASDAQ: TSLA ) Elon Musk called lithium the “new oil” and invested in what's now the largest processor of the element in North America. Indeed, demand for lithium, used for the rechargeable batteries in electric vehicles (EVs), has increased as more people move away from gasoline-powered cars and car manufacturers produce cleaner vehicles.
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) has increased the mineral resource estimate for the Ewoyaa lithium project in Ghana to 36.8Mt at an average grade of 1.24%. The upgrade follows drilling at the Dog-leg target, with 81% of the total resource also now in the higher confidence Measured and Indicated categories.
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) chairman Neil Herbert described the last quarter as one of "considerable progress" as it completed several milestones for its flagship Ewoyaa Lithium Project in Ghana. These included the successful conclusion of the second and final Environmental Protection Agency (EPA) public hearing and the submission of a draft Environmental Impact Statement (EIS) to the EPA.
Nevada Lithium Resources Inc (CSE:NVLH, OTCQB:NVLHF) CEO Stephen Rentschler talked with Proactive about the latest developments at the Bonnie Claire project. Rentschler discussed the commencement of a new drilling program aimed at advancing their high-grade lithium and boron mineralization findings and explained the significance of these findings.