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GANFENGLITHIUM Rallies ~7% at Midday; World's Largest Lithium Mine Cuts Full-Yr Output Forecast
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Australian mining company IGO has axed its full-year output forecast for Greenbushes, the world's largest hard-rock lithium mine, from 1.5-1.65 million tons to 1.38-1.43 million tons. IGO based its decision on a number of systemic issues that need time to resolve, including challenges related to safety performance, ore grades, recovery rates, maintenance, and plant reliability. Greenbushes is 51%-owned by a joint venture between IGO and TIANQI LITHIUM (09696.HK). TIANQI LITHIUM surged 5.44% to HKD60.1 at midday, with a volume of 6.685 million shares, involving HKD389 million. GANFENGLITHIUM (01772.HK) also ended the midday up 6.99% at HKD80.4, with a volume of 7.6449 million shares, involving HKD594 million. Auto-translated by AI AASTOCKS Financial News |
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