Nice to see AKM next door are predicting very good prices for their Lithium spodumene product this year."June 6 (Reuters) - Australian lithium miner Allkem Ltd (AKE) said on Monday its annual production of spodumene, a source of lithium, would be lower than a prior guidance, but expected higher prices for its products on improved market conditions.
Shares of Allkem fell 1.6% to A$11.68, in early trading. A tight labour market in Western Australia, where much of the country's mining activities take place, along with COVID-19 related border closures, have hit production at mining firms operating in the state.
Allkem now expects spodumene production for the fiscal year 2022 to be between 2% and 4% lower than earlier guided, at between 192,000 dry metric tonnes (dmt) and 196,000 dmt.
Selling prices, however, are expected to come in well over guidance, with lithium carbonate prices in the June quarter expected to average $40,000 per tonne free-on-board, about 14% above its earlier forecast, amid a global boom in commodity prices, the miner said.
It added that strong market conditions also aided spodumene concentrate, with pricing of about $5,000 per tonne in the June quarter."
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