PERTH (miningweekly.com) – Dual-listed lithium miner Orocobre has reported a 44% drop in revenue for the December quarter as lithium prices tumbled.
Lithium production during the December quarter reached 3 586 t, up slightly from the 3 093 t in the previous quarter, and down 5% on the previous corresponding period.
Sales tonnage also increased by 6% in the December quarter, to 3 287 t, and by 9% compared with the previous corresponding period; however, the average price received for Orocobre’s lithium product declined by 24% quarter-on-quarter, and by 49% compare with the previous corresponding period, to $5 419/t.
Revenue for the three months to December declined by 19% compared with the September quarter, to $17.8-million, and by 44% compared with the $32-million achieved in the previous corresponding period.
Looking at the year ahead, Orocobre expected full-year production in 2020 to be at least 5% higher than 2019.