Financial Times on Nostr: Lithium producer says west cannot end reliance on China in critical minerals ...
Lithium producer says west cannot end reliance on China in critical minerals
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Albemarle's CEO Kent Masters states that economics do not support a shift away from Asia for commodities in electric vehicle supply chains; the company reported a quarterly loss of $1.1 billion due to low lithium prices; workforce reduced by 6-7% as part of cost-saving measures; US Inflation Reduction Act's tax credits have not accelerated the development of a non-Chinese supply chain in the minerals sector; Albemarle has a processing facility in Antofagasta, Chile.
#Lithium #Albemarle #China #ElectricVehicles #SupplyChain #UsInflationReductionAct #Mining #Economics #WorkforceReduction #CriticalMinerals
https://www.ft.com/content/13130f5a-d91e-4bc6-a4a1-dc868aad19bb
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Albemarle's CEO Kent Masters states that economics do not support a shift away from Asia for commodities in electric vehicle supply chains; the company reported a quarterly loss of $1.1 billion due to low lithium prices; workforce reduced by 6-7% as part of cost-saving measures; US Inflation Reduction Act's tax credits have not accelerated the development of a non-Chinese supply chain in the minerals sector; Albemarle has a processing facility in Antofagasta, Chile.
#Lithium #Albemarle #China #ElectricVehicles #SupplyChain #UsInflationReductionAct #Mining #Economics #WorkforceReduction #CriticalMinerals
https://www.ft.com/content/13130f5a-d91e-4bc6-a4a1-dc868aad19bb