MP Materials, rare-earths miner, and Albemarle, lithium producer, stand to benefit as the Commerce Department considers reallocating at least $2 billion from the CHIPS and Science Act toward mining, processing and recycling projects, according to people briefed on the talks. The shift would move money from semiconductor research and fab incentives to shore up U.S....
READ MOREAlbemarle, lithium producer, and Chile’s labor inspectorate, workplace regulator, have begun a formal review of an incident at the La Negra chemical complex near Antofagasta after a complaint that an acid-carrying pipe burst; the company’s facility is operating normally while the inquiry proceeds, according to people familiar with the site. What happened and what’s known...
READ MOREIGO Ltd has reduced its fiscal 2025 capital expenditure forecast for the Greenbushes lithium mine in Western Australia, now expecting to spend A$700 million to A$800 million (USD $447–$511 million), down from its previous estimate of A$850 million to A$950 million (USD $543–$607 million). The company attributed the cut to a review and optimization of...
READ MOREAlbemarle Corporation posted its financial results for Q4 and the full year of 2024, reflecting the impact of lower lithium prices despite cost reduction efforts. The company implemented efficiency measures to remain competitive but did not meet analyst expectations due to a lithium supply glut driven by overproduction in China. Chairman and CEO Kent Masters...
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