Tianqi Lithium’s Loss More Than Triples to $403 Million as Demand Slumps and Profits Plummet
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Lithium batteries are produced in a factory in Nanchang, Jiangxi province. Photo: VCG
Debt-ridden Chinese lithium giant Tianqi Lithium has posted a plunge in profit due to depressed prices and slumping demand, a result that further deepens its financial prospects for the year.
Tianqi Lithium Corp., responsible for over 46% of global production in 2018, reported on Saturday a loss of 2.82 billion yuan ($403 million) last year, down by 228% compared with 2018.
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