PHILADELPHIA and PERTH, Australia, Sept. 4, 2024/ PRNewswire/– Arcadium Lithium plc ALTM LTM “, Arcadium Lithium”, ))) today revealed that it will suspend Phase 4A waste removing, and any expansionary financial investment beyond Phase 3, at its Mt Cattlin spodumene operation in Western Australia offered the ongoing decrease in spodumene rates. Furthermore, the Business prepares to position the Mt Cattlin website into Care & & Upkeep after it finishes Phase 3 mining and ore processing by the end of the very first half of 2025.
As an outcome of these choices, the Business anticipates to increase web anticipated capital in 2024 and 2025 cumulatively by roughly USD 75 to 100 million.
The Business does not mean to close Mt Cattlin at this time. Care & & Upkeep will keep the mine and processing centers in a position to possibly resume operations when market conditions end up being more beneficial. Arcadium Lithium will continue to check out the practicality of underground mining at the Mt Cattlin website, which might possibly extend the staying mine life.
Paul Graves, president and ceo, commented: “We stay dedicated to establishing our international portfolio of acid rock properties and are positive that they will continue to be a substantial part of Arcadium Lithium’s development story. Regrettably, production at Mt Cattlin beyond the existing phase of the open pit can not be validated in the existing cost environment for spodumene. We will preserve open and transparent discussion with all of our stakeholders while supporting our workers and neighborhoods in Western Australia throughout this shift duration.”
Extra information will be offered at Arcadium Lithium Financier Day on September 19.
Arcadium Lithium Contacts
Financiers:
Daniel Rosen +1 215 299 6208
daniel.rosen@arcadiumlithium.com
Phoebe Lee +61 413 557 780
phoebe.lee@arcadiumlithium.com
Media:
Karen Vizental +54 9 114 414 4702
karen.vizental@arcadiumlithium.com
About Arcadium Lithium
Arcadium Lithium is a leading international lithium chemicals manufacturer dedicated to securely and properly utilizing the power of lithium to enhance individuals’s lives and speed up the shift to a tidy energy future. We team up with our consumers to drive development and power a more sustainable world in which lithium makes it possible for amazing possibilities for renewable resource, electrical transport and modern-day life. Arcadium Lithium is vertically incorporated, with industry-leading abilities throughout lithium extraction procedures, consisting of hard-rock mining, traditional salt water extraction and direct lithium extraction (DLE), and in lithium chemicals producing for high efficiency applications. We have operations around the globe, with centers and tasks in Argentina, Australia, Canada, China, Japan, the UK and the United States. To find out more, please visit us at www.ArcadiumLithium.com.
Essential Details and Legal Disclaimer:
Safe Harbor Declaration under the Personal Securities Lawsuits Reform Act of 1995: Particular declarations in this press release are positive declarations. Sometimes, we have actually determined positive declarations by such words or expressions as “will likely result,” “is positive that,” “anticipate,” “anticipates,” “should,” “could,” “may,” “will continue to,” “think,” “thinks,” “expects,” “anticipates,” “projections,” “price quotes,” “tasks,” “prospective,” “means” or comparable expressions determining “positive declarations” within the significance of the Personal Securities Lawsuits Reform Act of 1995, consisting of the unfavorable of those words and expressions. Such positive declarations are based upon our existing views and presumptions concerning future occasions, future service conditions and the outlook for Arcadium Lithium based upon presently offered info. There are very important aspects that might trigger Arcadium Lithium’s real outcomes, level of activity, efficiency or accomplishments to vary materially from the outcomes, level of activity, efficiency or accomplishments revealed or suggested by the positive declarations, consisting of the supply and need in the market for our items along with prices for lithium and high-performance lithium substances; our capability to understand the awaited advantages of the combination of business of Livent and Allkem or of any future acquisitions; our capability to get or establish extra reserves that are financially feasible; the presence, schedule and success of mineral resources and mineral and ore reserves; the success of our production growth efforts, research study and advancement efforts and the advancement of our centers; our capability to maintain existing consumers; the competitors that we deal with in our service; the advancement and adoption of brand-new battery innovations; extra financing or capital that might be needed for our operations and growth strategies; political, monetary and functional threats that our lithium extraction and production operations, especially in Argentina, expose us to; physical and other threats that our operations and providers undergo; our capability to please consumer certification procedures or consumer or federal government quality requirements; international financial conditions, consisting of inflation, changes in the cost of energy and particular basic materials; the capability of our joint endeavors, associated entities and agreement producers to run according to their service strategies and to satisfy their responsibilities; extreme weather condition occasions and the impacts of environment modification; comprehensive and vibrant ecological and other laws and policies; our capability to acquire and abide by needed licenses, authorizations and other approvals; and other aspects explained under the caption entitled “Danger Elements” in Arcadium Lithium’s 2023 Kind 10-K submitted with the Securities and Exchange Commission (” SEC”) on February 29, 2024, along with Arcadium Lithium’s other SEC filings and public interactions. Although Arcadium Lithium thinks the expectations shown in the positive declarations are sensible, Arcadium Lithium can not ensure future outcomes, level of activity, efficiency or accomplishments. Additionally, neither Arcadium Lithium nor any other individual presumes duty for the precision and efficiency of any of these positive declarations. Arcadium Lithium is under no task to upgrade any of these positive declarations after the date of this press release to adhere its previous declarations to real outcomes or modified expectations.
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SOURCE Arcadium Lithium PLC
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