(Adds production details, background) Feb 21 (Reuters) -...

(Adds production details, background)

Feb 21 (Reuters) - Lithium miner Allkem Ltd (AKE) on Tuesday cut its full-year guidance for spodumene concentrate production from its Mt Cattlin operations in Western Australia for the second time due to lower-grade ore and fine-grained mineralisation.

The company said it now expected fiscal 2023 spodumene concentrate production from Mt Cattlin in the range of 114,000 tonnes to 124,000 tonnes, compared with its earlier forecast of 140,000 tonnes to 150,000 tonnes. This compares with the 193,563 tonnes it produced in fiscal 2022.

Allkem had earlier lowered its Mt Cattlin production aspirations for 2023 from an initial estimate of 160,000 tonnes to 170,000 tonnes, citing labour and equipment shortages.

Spodumene is the mineral from which lithium is extracted. Its popularity and price has soared as lithium is a key component of electric vehicle batteries.