2024 General news etc, page-98

So no sweat on NRW guys amongst the 300 employees being stood down here after all!!
: ) …….  

Cheers

https://thewest.com.au/business/lit...eeable-future-says-australia-boss--c-15647306


Lights to stay on at Arcadium Lithium’s Mt Cattlin ‘for the foreseeable future’, says Australia boss
Simone GroganThe West Australian
Fri, 9 August 2024 6:19PM



The Mt Cattlin lithium mine near Ravensthorpe. Credit: Allkem/TheWest

Arcadium Lithium’s Mt Cattlin mine in Ravensthorpe is in a “good position to ride out” depressed rices and will stay open “for the foreseeable future”, according to the company’s Australian lead.

Head of operations in Australia, Liam Franklyn, told The West Australian on Friday there had been “no real change” in how the global lithium giant was assessing the ageing spodumene concentrate mine since cratering prices got serious at the end of 2023.

Comments made by chief executive Paul Graves to investors this week about putting Mt Cattlin on care and maintenance becoming “a much more acute” question as prices hover below $US1000 a tonne fired up fresh concerns about the operation’s future.

While confirming Arcadium was keeping a close watch on forecasts, Mr Franklyn also said his boss’ comments were “no different to any focus” the company has had on Mt Cattlin since January.

“Looking at care and maintenance is something that always presents itself,” he said.
“We’re in a very good position to ride out the current suppressed price ... it’ll (Mt Cattlin) continue to stay open for the foreseeable future.”

He said the 300 employees working at the operation 2 kilometres north of Ravensthorpe were aware of the market’s uncertain conditions.

“We’ve been giving them (staff) the same message since February and I’ll be down on site next week to remind them we’re in the same position as the last six months,” he said.

According to a June 2023 update, then-Allkem — the other half of Arcadium prior to merging with Livent at the end of last year — had enough reserves to keep mining the open pit at Mt Cattlin until FY27.

That was when prices were a higher, however, and Arcadium is already trying to reduce overall spending by about $US500 million over the next two years in response to market conditions.

Part of those efforts include pushing pause on its 40,000tpa spodumene project in Canada and lithium carbonate projects in Argentina.

A feasibility study into options for a potential underground mine at Mt Cattlin had been due this year. The company shipped 204,979dmt of spodumene in 2023.

A tonne of 6 per cent spodumene concentrate, the raw material produced from Mt Cattlin, was fetching more than $US6400 ($9744) at its peak in 2022, but is now sitting at just over $US900 ($1366).

The battery metals glut has claimed about 7000 jobs in Australia since the end of 2023, with layoffs at BHP Nickel West, IGO, Wyloo, Albemarle and Core Lithium.