Arcadium buys lithium metal business

Arcadium Lithium, the company formed by the merger of Livent and Allkem at the start of the year, has acquired the lithium metal business of Li-Metal for $11 million. This includes a pilot production facility in Ontario. Li-Metal founder and CTO Maciej Jastrzebski has entered into a consulting agreement to facilitate the transfer of technology and integrate the team.

Arcadium said that this will strengthen its position in lithium metal “by providing safer, lower cost and more sustainable processes” using grades of lithium carbonate that Li-Metal produces in Argentina. It will also complement existing process technologies for lithium metal at its Bessemer City site in North Carolina, using concentrated lithium chloride from its own Argentine facility.

Upstream, however, Arcadium announced plans to alter its investment plans during its Q2 results presentation in response to low lithium prices. As a result, it will spend approximately $500 million less over the next 24 months.

The company will pause current investment in its 40,000 tonnes/year spodumene Galaxy project in Canada and seek a capital partner, while completing the two parts of a 25,000 tonnes/year lithium carbonate project at Salar del Hombre Muerto in Argentina sequentially instead of simultaneously. The 32,000 tonnes/year Nemaska Lithium integrated spodumene to hydroxide project in Canada will not be affected.