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Australia's Liontown Resources modifies Kathleen Valley lithium strategies, pointing out low prices

Australia's Liontown Resources said on Monday that it is revising its production strategies for its flagship Kathleen Valley lithium job in Western Australia, in a bid to adjust to low costs for the metal.

The lithium producer stated it plans to deliver a production rate of 2.8 million loads per year from the end of 2027, down from its target of 3 million metric heaps by the end of the very first quarter of 2025.

Liontown also flagged up to A$ 100 million in expense reduction and deferrals anticipated to be caught during its Business Optimisation Program, with a possibility of further expansion of the project when market conditions improve.

Our decision to mine underground manages Liontown the versatility to target high margin locations of our tier 1 resource and scale our operations to fulfill the marketplace, Chief Executive Officer Tony Ottaviano said in a declaration.

Worldwide lithium markets are

reeling

from fast supply development which has surpassed need throughout a time when the sales of electric automobiles have actually slowed.

(source: Reuters)