Argentina-focused Livent (NYSE:LTHM) posted earnings of US$69.5 million in 2021 and has set its steerage for 2022 within the US$160 million to US$200 million vary on improved pricing.
Livent additionally mentioned it’s on monitor to ship a beforehand introduced capability enlargement and outlined one other enlargement program to be accomplished by 2025. Following this second enlargement, Livent’s Argentina operations may have a complete annual lithium carbonate capability of 60,000 metric tonnes (MT), in addition to 9,000 MT of lithium chloride capability.
Shares of the high lithium miner have been up greater than 7 p.c final Friday (February 18) in comparison with the corporate’s closing worth on Thursday (February 17), which was earlier than Livent’s outcomes have been launched.
Costs for lithium have been rallying since final 12 months, hitting all-time highs and main corporations to make funding selections for a lot of expansions and new tasks.
“Lithium demand development was robust all through 2021 and has continued to develop in 2022,” Livent President and CEO Paul Graves mentioned. “Revealed lithium costs in all types rose to document setting ranges in January, and we proceed to appreciate considerably increased costs throughout our whole portfolio.”
Inside the subsequent 12 months, Livent will add capability of 5,000 MT of lithium hydroxide in Bessemer Metropolis; moreover, 10,000 MT of lithium carbonate capability might be added in Argentina in each 2022 and 2023.
“We proceed to make substantial progress on all of our enlargement tasks,” Graves mentioned. “Our clients are extraordinarily centered on securing dependable lithium volumes wanted for their very own development plans, and we are going to proceed to spend money on growing our capability to assist them.”
The US firm operates its lithium enterprise within the Salar del Hombre Muerto in Argentina, the place it has been extracting lithium for greater than 20 years. The lithium carbonate produced serves because the feedstock for Livent’s downstream lithium hydroxide manufacturing. Livent can also be at present producing certified battery-grade lithium hydroxide in each the US and China.
Livent’s share worth is up greater than 12 p.c year-on-year, with many different US, Canadian and Australianlithium shares seeing their very own positive aspects.
As of 12:00 p.m. EST final Thursday, shares of Livent have been buying and selling at US$22.67.
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Securities Disclosure: I, Priscila Barrera, at present maintain no direct funding curiosity in any firm talked about on this article.
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