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Stock impact report

China's Tianqi Lithium expects to stay in red after big 2019 loss [Reuters]

Sociedad Quimica y Minera S.A. (SQM) 
Last sociedad quimica y minera s.a. earnings: 3/2 09:13 pm Check Earnings Report
US:NYSE Investor Relations: ir.sqm.com
Company Research Source: Reuters
China's Tianqi Lithium expects to stay in red after big 2019 loss BEIJING (Reuters) - China’s Tianqi Lithium Corp said on Wednesday it expects to post a net loss of up to 932.4 million yuan ($131.7 million) in the first half of 2020 on lower lithium prices, after revising to a much worse-than-expected 6 billion yuan loss for last year. Tianqi’s share price fell as much as 10% on Tuesday to its lowest since November 2015 after it said its 2019 net loss was going to be double previous guidance due to a higher impairment provision on its stake in Chilean miner SQM. Tianqi, one of the world’s top producers of lithium, used in batteries for electric vehicles, has flagged liquidity problems as it struggles to repay loans taken out to buy the 23.8% stake in SQM for $4.1 billion in 2018. The company confirmed a 5.98 billion yuan loss for 2019 on Wednesday, and reported a 500.3 million yuan loss for the first quarter of 2020, near the top of previous guidance for a quarterly loss and compared Show less Read more
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