Zijin to Miss Lithium Output Target and Control Pace of Projects
- Price of battery material continues to languish due to glut
- Firm had already cut its production guidance for next year
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Zijin Mining Group Co., China’s most valuable miner and an aspiring lithium giant, said it will miss its production guidance for the battery material this year as prices continue to languish.
Zijin’s lithium output will fall below its target of 25,000 tons, the company told investors on Monday, after posting a 46% increase in first-half earnings. The firm will control the pace at which its projects are commissioned and constructed as the industry grapples with oversupply, it said.