- Write by:
-
Wednesday, February 21, 2024 - 01:59:22
-
93 Visit
-
Print
US miner Piedmont Lithium said on Wednesday it would sell its remaining shares in Australian miner Sayona Mining for about A$59.9 million ($39.28 million).
Weakness in lithium prices due to global supply outweighing demand led to Piedmont cutting 27% of its workforce earlier this month as part of a broader cost cutting plan. Larger rival Albemarle had also cut jobs and halted expansion plans last month.
The sale would not affect Piedmont’s joint venture or offtake agreement with Sayona’s business unit, Sayona Quebec. Both companies jointly own the North American Lithium (NAL) operation, with Sayona being the majority shareholder.
Sayona had said in August NAL intends to sell at least 56,500 tonnes of spodumene concentrate in the first half of 2024 as part of the offtake agreement. Spodumene concentrate is a type of lithium mineral ore.
Piedmont did not provide details of the buyer of its stake in Sayona.
Short Link:
https://www.miningnews.ir/En/News/628040
Chile’s state copper company Codelco defended its proposed lithium production tie-up with SQM in response to criticism ...
Chile’s state-run miner Codelco plans to select a partner for a future lithium project in one of the country’s top salt ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in ...
Peabody Energy Corp. shares sunk to the lowest in seven months after the biggest US coal miner warned that first-quarter ...
Lithium supplier Vulcan Energy on Wednesday announced the start of production of the first lithium chloride at its ...
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being ...
No comments have been posted yet ...