The World's Largest Lithium Mine Has Cut Production By 100,000 Tons And Reformulated Its Pricing Mechanism

Bloomberg on January 30, Australian lithium miner IGO recently announced that its Greenbush lithium mine, the world's largest lithium spodumene mine project jointly operated by Tianqi Lithium and the United States Yabao, will reduce lithium concentrate production by 100,000 tons this year. At the same time, the company also revised the lithium ore sales pricing mechanism. Under the new system, the monthly pricing for spodumene concentrate will be reworked based on the average of the previous month, taking into account the average price of the four major reporting agencies - Fastmarkets (a subsidiary of Euromoney Institutional Investors Group), Asian Metals, Benchmark Mineral Intelligence and S&P - minus a 5% volume discount to form an FOB Australia price.