AMG reports Q1 2024 quarterly results on 7 May. Operating the Mibra spodumene mine in Brazil, the metal producer faced a more challenging quarter, with significant reductions in revenue due to decreasing lithium prices.
In Q1 2024, AMG sold 15,652 dry metric tons (dmt) of lithium concentrates, with an average realized sales price of US$1,163 per dry metric tonne CIF China and an average cost per ton of US$616 per dry metric tonne CIF China. As the company is eyeing the capacity expansion from 90,000 to 130,000 tonnes per annum at the concentrator in Brazil, and the new lithium hydroxide refinery production in Germany in Q3 2024, AMG expects rising costs in the following quarters.
Nevertheless, the company remains confident in retaining its status as one of the world’s lowest-cost producers of spodumene concentrate. As production ramps up, costs are anticipated to decrease due to increased operational efficiency.
Author: Hongqiu Su | Battery Metals Analyst Associate | London Office, Shanghai Metals Market
Email: lilysu@smm.cn
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