Australia’s aspirations to profit from global demand for electric vehicles is taking a hit thanks to a price crash for crucial battery minerals, such as lithium and nickel
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The joint venture partner in Australia’s largest lithium mine is reducing production of the important battery mineral, and halting one of its nickel operations, as plunging prices threaten to overwhelm a sector crucial to the electrification of the automotive industry.
Perth-based IGO has confirmed production cuts to its Greenbushes operations, located near the tiny West Australian timber and mining town the mine is named after, because of subdued demand for battery-grade lithium chemicals.
Continue reading…Australia’s aspirations to profit from global demand for electric vehicles is taking a hit thanks to a price crash for crucial battery minerals, such as lithium and nickelFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe joint venture partner in Australia’s largest lithium mine is reducing production of the important battery mineral, and halting one of its nickel operations, as plunging prices threaten to overwhelm a sector crucial to the electrification of the automotive industry.Perth-based IGO has confirmed production cuts to its Greenbushes operations, located near the tiny West Australian timber and mining town the mine is named after, because of subdued demand for battery-grade lithium chemicals.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…