Nemaska Lithium temporarily closes Whabouch Lithium I Mine Shawinigan hydrometallurgical plant will be closed later

Published: Nov 19, 2019 08:55

Save

SMM11, March 12: as lithium prices continue to decline and there is no current lack of financing, Nemaska Lithium in Quebec City has been forced to temporarily close its operations at the Whabouchi lithium mine 300km northwest of Chibougamau in Quebec. Shawinigan's hydrometallurgical plant will also complete the remaining orders before closing.

As of September 30, 2019, Nemaska said it had invested C $392 million in two plants. It currently costs C $187 million in mines and C $690 million in factories. The total budget for both is C $1.3 billion. Mines and factories will be closed one after another in order to resume operations after the settlement of funds.

Nemaska and Pallinghurst Group, its largest shareholder, continued negotiations to complete project financing.

Cars batteries cobalt lithium new energy

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 to learn 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

2 hours ago

Cost Push or Supply-Demand Restructuring?—The Real Logic Behind Iron Phosphate Price Increases in April

Iron phosphate negotiations in April were deadlocked, with offers hitting 13,000 yuan/mt. The price surge appeared raw-material driven, but in fact reflected pricing power shifting upstream after a reversal in supply-demand fundamentals. Downstream buyers cited “cost increases” to push back, yet conveniently forgot the upstream losses quietly absorbed over the past three years. This was never about simple cost pass-through—it was a restructuring of profit distribution across the chain.

2 hours ago

15 hours ago

Sungrow: The Global Energy Storage Market Is Expected to Grow by 30–50 in 2026

At a conference call on March 31, Sungrow stated regarding the company’s overall target plan for energy storage shipments in 2026 that the global market is expected to grow by 30–50 in 2026. With raw material prices rising, some projects were in a wait-and-see stage, but the demand should still exist and would only be deferred. The company will strive based on the upper end of market growth, hoping to achieve more than 60 Gwh.

15 hours ago

SK Innovation E&S Launches Largest ESS Facility in New York

SK Innovation E&S has completed and begun operations of the largest energy storage system (ESS) facility in New York State. According to industry sources on the 31st, its subsidiary KCE launched the KCE NY 6 battery storage facility located on Electric Avenue in Blasdell, Erie County. The project, with a capacity of 20MW (45.6MWh), is the largest single ESS site constructed in New York at the time of its commissioning and is directly connected to the local power grid.

15 hours ago