Australian Galaxy Resources reduces Lithium production

Published: Oct 24, 2019 11:21
GalaxyResourcesLtd, an Australian lithium miner, said on Thursday it would scale back its operations at its Catlin Mountain mine as the industry faces pressure from weak prices and lower-than-expected demand from China.

SMM10, March 24-Australian lithium miner GalaxyResourcesLtd said Thursday it will scale back its operations at its Catlin Mountain mine as the industry faces pressure from weak prices and lower-than-expected demand from China.

Galaxy said in a statement that it was reviewing the operation of (Mt Cattlin) in Mount Catlin and expected its production to be reduced by about 40 per cent.

Rio Tinto said the US-China trade dispute and lower-than-expected economic growth in China had had an impact on the overall economic outlook and short-term sentiment in the electric vehicle and lithium-ion battery markets.

Weak production of new energy vehicles in China and weak production in the United States were the main nuclear causes of weak lithium demand in the third quarter of 2019.

Australian lithium producers have been cutting supplies in recent months because of plummeting prices. In June, China cut subsidies for electric vehicles and raised the standard for new energy vehicles eligible for subsidies.

Galaxy said the review would help the company ensure that Mount Catlin continues to create positive operating margins and extend the life of the mine.

Galaxy cut the upper limit of its annual production guidance to 193000 dry metric tons of lithium concentrate, down from 210000 tons per ton.

"Click to sign up for the Lithium Power Industry chain Summit

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

 

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
[Lithium Battery: Weilan Lithium Core Releases H1 2026 Performance Report]
43 mins ago
[Lithium Battery: Weilan Lithium Core Releases H1 2026 Performance Report]
Read More
[Lithium Battery: Weilan Lithium Core Releases H1 2026 Performance Report]
[Lithium Battery: Weilan Lithium Core Releases H1 2026 Performance Report]
On August 18, Weilan Lithium Core released its semi-annual performance report for 2026. During the reporting period, the company's core business continued to maintain a favorable operating condition, achieving total operating revenue of 4.858 billion yuan, a year-on-year increase of 30.35%; net profit was 555 million yuan, a year-on-year increase of 50.07%. Regarding the performance growth, Weilan Lithium Core attributed it to the competitiveness of its products and the increase in downstream demand, with its lithium battery business growing rapidly year-on-year. In the first half of 2026, Weilan Lithium Core's lithium battery business experienced rapid growth, with the lithium battery segment achieving operating revenue of 2.527 billion yuan, a year-on-year increase of 58.43%; the gross profit margin was 22.84%.
43 mins ago
[Lithium Battery: LG Energy Solution's Lansing, Michigan Battery Factory Officially Commences Production]
43 mins ago
[Lithium Battery: LG Energy Solution's Lansing, Michigan Battery Factory Officially Commences Production]
Read More
[Lithium Battery: LG Energy Solution's Lansing, Michigan Battery Factory Officially Commences Production]
[Lithium Battery: LG Energy Solution's Lansing, Michigan Battery Factory Officially Commences Production]
On August 18, LG Energy Solution announced that its new battery factory in Lansing, Michigan, USA, has officially started production. The project represents a total investment of over $2 billion and will produce both energy storage and automotive power batteries, further expanding the company's local battery supply capabilities in North America. The factory spans 226 acres and, at full production capacity, will have an annual battery output exceeding 35 GWh. The products are divided into two main tracks: one track produces lithium iron phosphate (LFP) cells for grid-scale and commercial & industrial energy storage applications. These cells will be integrated into complete energy storage systems by LG Energy Solution's US energy storage division, Vertech, with Detroit-based energy company DTE Energy becoming a downstream customer for the factory's energy storage batteries. The other track produces high-energy-density nickel-manganese-cobalt (NMC) batteries exclusively for Toyota, which will be used in the 2027 Toyota Highlander all-electric model, supporting Toyota's electric vehicle supply chain development in the United States.
43 mins ago
LG Energy Solution Considers Supplying Drone Batteries in the U.S.
2 hours ago
LG Energy Solution Considers Supplying Drone Batteries in the U.S.
Read More
LG Energy Solution Considers Supplying Drone Batteries in the U.S.
LG Energy Solution Considers Supplying Drone Batteries in the U.S.
The head of LG Energy Solution’s North America business said in an interview with Bloomberg on August 18 local time that the company has received inquiries from multiple U.S. companies and government agencies related to defense applications and is carefully reviewing them.
2 hours ago
Australian Galaxy Resources reduces Lithium production - Shanghai Metals Market (SMM)