Arcadium Lithium plc announced that it is suspending Phase 4A of waste stripping and any expansion investments beyond Phase 3 at its Mt Cattlin spodumene operation in Western Australia due to the continued decline in spodumene prices. In addition, the Company plans to place the Mt Cattlin site on care and maintenance after completing Phase 3 of mining and ore processing by the end of the first half of 2025. As a result of these decisions, the Company expects to increase expected net cash flow in 2024 and 2025 by approximately $75 million to $100 million.
The Company has no plans to close Mt Cattlin at this time. Care and maintenance work will allow the mine and processing facilities to resume operations when market conditions become more favourable. Arcadium Lithium will continue to explore the viability of an underground operation at the Mt Cattlin site, which could extend the remaining life of the mine.
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