Australia's Altura reduces Oct-Dec lithium guidance
Australian lithium producer Altura Mining has reduced its output guidance for October-December after bringing forward a maintenance shutdown.
The company now expects its Altura project in the Pilgangoora region of Western Australia to produce 45,000-50,000 wet metric tonnes (wmt) of lithium concentrate in the period, down from its previous guidance of 53,000-57,000wmt. Sales for October-December are forecast at around 40,000 dry metric tonnes (dmt), down from previous guidance of 50,000-55,000dmt.
The sales reduction is the result of a delayed departure of a cargo to China from Port Hedland. This cargo is now expected to be loaded and shipped in January as part of a larger shipment of around 22,000dmt.
The decision to bring forward maintenance will improve plant performance and increase the production rate in January-March 2020, managing director James Brown said. All replacement components installed during the 94-hour maintenance shutdown are performing as planned.
"The lithium market remains subdued but we are confident that the long term fundamentals of our business and the outlook for the lithium market remain very positive," he said.
Lithium concentrate prices have fallen to under $550/t from above $900/t over the past 18 months, causing several producers to cut output and suspend expansion and downstream project development.
Altura has delayed an investment decision on doubling the 220,000 t/yr capacity at its existing operations.
source: Argus Media
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