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Liontown Cuts to Lithium Plans Sound Fresh Alarm for Sector
- Australian miner is the latest to trim production, costs
- BNEF says closures are unlikely to boost price swiftly
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Liontown Resources Ltd. trimmed production plans for its flagship Kathleen Valley lithium project, making it the latest miner of the battery metal to respond to an ongoing price slump with reduced output.
The Australian company, backed by billionaire Gina Rinehart, now sees annual production of 2.8 million tons from the end of the 2027 financial year, according to a statement on Monday. It had forecast that nameplate capacity of 3 million tons a year would be reached by the end of March 2025. Liontown said it expects to save up to A$100 million ($66 million).