Lithium miner Galaxy Resources will scale back operations at its Mt Cattlin mine as the sector faces pressure from weak pricing and lower than expected demand from China.
Galaxy said on Thursday it is reviewing operations at Mt Cattlin, its most important mine, and expected to reduce the amount of material mined by about 40 per cent.
Despite the current pricing pressure, Galaxy said it was confident in the long-term outlook, with support expected from growth in electric vehicle markets and higher penetration of lithium-ion batteries for electrified energy storage.
https://www.news.com.au/finance/business/breaking-news/galaxy-resources-to-cut-lithium-production/news-story/cd961de68fe0e14914762def32a552cc
Ann: Quarterly Activities and Cashflow Report 30 September 2019, page-15
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