Australian lithium miners gain after report CATL suspends operations at China mine
Shares in Australia-listed lithium miners surged on Monday, after a report that battery manufacturer Contemporary Amperex Technology (CATL) had suspended production at a major Chinese mine for at least three months.
Liontown Resources was the top gainer among the pack, rising nearly 25%. Pilbara Minerals, IGO, Core Lithium and Mineral Resources jumped between 10.5% and 17.4%.
CATL has suspended production at its lithium mine Jianxiawo in China's Jiangxi province, Bloomberg News reported on Sunday, citing people familiar with the matter.
The lithium sector is grappling with weaker-than-anticipated growth in demand for electric vehicles and an oversupplied market.
After soaring to record highs in 2022, prices of lithium, which is critical to the world's transition to greener energy, have tumbled almost 90%, prompting producers around the world to scale back investment plans.
Lithium prices gained last September when CATL announced plans to make adjustments to lithium carbonate production at its project in Jiangxi. Prices pared those gains when CATL said in February it would restart the operation.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation