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Galaxy Resources to Cut Lithium Production-The 21st China(Guangzhou) Int’l Forging Industry Exhibition
10/28/2019 鍛造展- Forging Industry exhibition - Forging expo |
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Australian lithium miner Galaxy Resources Ltd said that it will scale back operations at its Mt Cattlin mine, as the sector faces pressure from weak pricing and lower than expected demand from China. It said “It is reviewing operations at Mt Cattlin, its most important mine, and expected to reduce the amount of material mined by about 40%.A soft quarter in Chinese new energy vehicle manufacturing production, as well as subdued deliveries in the USA were core contributors to the weakness in lithium demand during Q3 2019. The US China trade dispute and weaker than expected growth in China has hurt the overall economic outlook and short-term sentiment in the electric vehicle and lithium-ion battery market. review would help it ensure Mt Cattlin continues producing positive operating margins and enable the company to extend its mine life”
Galaxy trimmed the upper end of full year production guidance to as much as 193,000 dry metric tonnes of lithium concentrate, down from a previous upper limit of 210,000 dmt.
In June, China cut electric vehicle subsidies, having raised the standards for new energy vehicles that qualify for subsidies and reduced the amount provided.
鍛造展-第二十一屆廣州國際鍛造工業展覽會
-The 21st China(Guangzhou) Int’l Forging Industry Exhibition
- Forging Industry exhibition, Forging
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