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Bullboard - Stock Discussion Forum Advantage Lithium Corp AVLIF

Metals & Mining Industrial Metals & Minerals

Advantage Lithium Corp is engaged in the acquisition and exploration of lithium properties. It operates in single segment namely the exploration and development of unproven exploration and evaluation assets. The company's principal business objective has been the identification and evaluation of companies, businesses, properties, or assets with a view to acquisition or participation therein... see more

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OTCQX:AVLIF - Post Discussion

Advantage Lithium Corp > Albemarle STOPS Chilean expansion

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Post by goodtoreadthis on Nov 09, 2018 2:17am

Albemarle STOPS Chilean expansion

Albemarle stops Chile expansion plans amid lithium tech scrutiny

Nov. 8, 2018 12:23 PM ET |About: Albemarle Corporation (ALB)|By: Carl Surran, SA News Editor

Albemarle (ALB -1.3%) CEO Luke Kissam defends the company's process that it has said could boost lithium production in Chile but is postponing two expansion projects that would have needed the new technology to be successful.

ALB said during today's earnings conference call that it would stop engineering work on its planned La Negra V and VI expansion projects.

Chilean regulators "want to see is some proof that it’s going to work before they give it to us. That’s it. It is not a big deal... and we only need it if we build" La Negra V and VI, Kissam said.

Earlier: Albemarle -2.5% as unexpected shutdowns at lithium plants hurt Q3 results (Nov. 8)