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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":682,"relatedVideos":683},112474200869748,"a935ca00-c0bb-4071-9cd4-8bfb3f41eb52","Australia’s spodumene backlog sparks 2020 cutbacks","australias-spodumene-backlog-sparks-2020-cutbacks","article/australias-spodumene-backlog-sparks-2020-cutbacks",{"_uid":547,"date":548,"tags":549,"editor":550,"content":560,"excerpt":660,"featured":50,"reporter":661,"_editable":665,"component":666,"seo_title":543,"categories":667,"visibility":674,"author_company":49,"featured_image":675,"seo_description":660,"author_full_name":49,"author_job_title":49,"formattedDate":680,"formattedArticleDate":681},"97a77c6f-a0ac-4cbe-ba2e-a8c07bee00cf","2020-01-24 00:00",[],[551],{"slug":552,"name":553,"content":554},"matthew-bird","Matthew Bird",{"job_title":555,"image":556,"bio":558,"linkedin":559},"Senior Editor - Supply Chains & Data Visualisation",{"filename":557},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":561,"content":562},"doc",[563,570,575,590,603,608,613,618,625,638,643,655],{"type":564,"attrs":565,"content":566},"paragraph",{"textAlign":49},[567],{"text":568,"type":569},"Galaxy Resources have announced plans to scale back operations by approximately 60% at its Western Australian Mt Cattlin mine in 2020, as market conditions continue to take their toll on Australia’s spodumene producers.","text",{"type":564,"attrs":571,"content":572},{"textAlign":49},[573],{"text":574,"type":569},"Further illustrating the problems facing Australian spodumene production, SQM and its investment partner Wesfarmers Limited have said they will defer the final investment decision for the Mt Holland project until the final quarter of 2021.",{"type":564,"attrs":576,"content":577},{"textAlign":49},[578,580,588],{"text":579,"type":569},"Through 2019 the ",{"text":581,"type":569,"marks":582},"Benchmark Minerals Spodumene (6% Li2O) FOB Australia",[583],{"type":584,"attrs":585},"link",{"href":586,"uuid":49,"anchor":49,"target":49,"linktype":587},"https://www.benchmarkminerals.com/price-assessments/","url",{"text":589,"type":569}," fell 45% to a mid-price of $480 per tonne. Further pressures are expected in Q1 2020, challenging the economics of new producers and future projects being explored in the region.",{"type":564,"attrs":591,"content":592},{"textAlign":49},[593,595,601],{"text":594,"type":569},"These pressures saw ",{"text":596,"type":569,"marks":597},"Alita Resources appoint administrators in August 2019",[598],{"type":584,"attrs":599},{"href":600,"uuid":49,"anchor":49,"target":49,"linktype":587},"https://source.benchmarkminerals.com/article/hard-rock-headache",{"text":602,"type":569},", with operations at the Bald Hill mine suspended.",{"type":564,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":569},"Throughout the second half of 2019 a number of producers delayed planned expansions in light of market conditions. Albemarle downgraded its Kemerton Project expansion, which would use feedstock from the Wodgina Lithium Project, and Tianqi put its stage two expansion plans for its Kwinana project on hold.",{"type":564,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":569},"“The pull back in expansion plans from established producers is a worrying sign for the long-term market outlook”, Andrew Miller, Product Director at Benchmark Minerals commented.",{"type":564,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":569},"“New project development and capital investments are being delayed at a time when the market needs to lay the foundations for demand growth expected from 2022 onwards. The chances of further market volatility are increasing by the week” he added.",{"type":619,"attrs":620,"content":622},"heading",{"level":621,"textAlign":49},6,[623],{"text":624,"type":569},"Fighting the backlog",{"type":564,"attrs":626,"content":627},{"textAlign":49},[628,630,636],{"text":629,"type":569},"Despite the ramp up delays and production cuts from the likes of Galaxy Resources there remains an abundance of material in the market. Excess material in the market totalled approximately 25,000 tpa LCE in 2019 according the ",{"text":631,"type":569,"marks":632},"Benchmark Mineral Lithium Forecast",[633],{"type":584,"attrs":634},{"href":635,"uuid":49,"anchor":49,"target":49,"linktype":587},"https://www.benchmarkminerals.com/forecasts/",{"text":637,"type":569},".",{"type":564,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":569},"This oversupply, compounded by limited lithium chemical demand growth prospects in the near future, means that the spodumene backlog is likely to carry on through at least the first quarter of 2020 before a more balanced supply environment is established.",{"type":564,"attrs":644,"content":645},{"textAlign":49},[646,648,653],{"text":647,"type":569},"Australian production has emerged as a major contributor to global lithium supply over the past few years, increasing from one producer in 2016 to six by mid-2019. Australia’s share of lithium raw material supply increased from 35% in 2016 to 50% in 2019 according to ",{"text":649,"type":569,"marks":650},"Benchmark Minerals Lithium Forecast",[651],{"type":584,"attrs":652},{"href":635,"uuid":49,"anchor":49,"target":49,"linktype":587},{"text":654,"type":569}," data.",{"type":564,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":569},"However, many of these new producers are now under pressure in this falling price environment. Not only are existing producers under pressure, but low prices also make further investment in the sector unlikely in the near future.","Galaxy Resources have announced plans to scale back operations by approximately 60% at its Western Australian Mt Cattlin mine in 2020, as market conditions continue to take their toll on Australia’s spodumene producers. Further illustrating the problems facing Australian spodumene production, SQM and its investment partner Wesfarmers Limited have said they will defer the final […]",[662],{"slug":552,"name":553,"content":663},{"job_title":555,"image":664,"bio":558,"linkedin":559},{"filename":557},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"97a77c6f-a0ac-4cbe-ba2e-a8c07bee00cf\", \"id\": \"\"}-->","article",[668,671],{"slug":669,"name":670},"batteries","Batteries",{"slug":672,"name":673},"critical-minerals","Critical Minerals","private",{"id":49,"alt":676,"name":676,"focus":676,"title":676,"source":676,"filename":677,"copyright":676,"fieldtype":678,"meta_data":679,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/8df5219467/bm-3144199355-d478f8c316-b.jpg","asset",{"alt":676,"title":676,"source":676,"copyright":676},"Jan 24, 2020","24th January 2020",[],[],1780500993461]