China’s Battery-Metals Rush Hits A Speed Bump [Forbes]
Albemarle Corporation (ALB)
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Source: Forbes
China’s rush to dominate the production of the raw materials used to make batteries for electric vehicles has taken a hit with one of its leaders in lithium trying to sell assets to pay down a debt pile.Tianqi Lithium took the resources world by storm five years ago during the start of a boom in demand for lithium, a lightweight metal, snapping up mines and processing plants.Lithium from the Greenbushes mine in Australia destined for use in making the batteries for electric... [+]vehicles. Photographer: Carla Gottgens/Bloomberg© 2017 Bloomberg Finance LPBut the good times for lithium and other “battery metals” such as graphite and cobalt, have faded, along with forecasts of a surge in demand for electric vehicles which is yet to arrive, and might be further delayed by the sharp fall in the price of oil which will make gasoline and diesel vehicles more competitive.Two of the plum assets snapped up by Tianqi were a 51% stake in the world’s biggest lithium mine at Greenbushes in Australi
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ALB
Earnings
- 5/1/24 - Miss
ALB
Sec Filings
- 5/15/24 - Form 4
- 5/15/24 - Form 144
- 5/14/24 - Form 3
- ALB's page on the SEC website