Arcadium Lithium reports strong first quarter results and significant growth for 2026

Arcadium Lithium, the multinational lithium company, announced its financial results for the first quarter of 2024, highlighting solid profitability driven by average prices for lithium hydroxide and carbonate above US$20,000 per metric ton. The company anticipates cost synergies and savings between US$60 and US$80 million for the year and continues to advance towards a capacity of 170,000 LCE by 2026.

By Panorama Minero

First Quarter Results

In its first quarter as a combined company following the merger of Allkem and Livent in early 2024, Arcadium Lithium reported revenues of US$261 million and adjusted EBITDA of US$108.8 million.

The company's President and CEO, Paul Graves, commented, "Arcadium Lithium completed its first quarter as a combined company, and we have taken the first steps to realize the significant value from this combination. The average realized price for our sales of hydroxide and carbonate exceeded US$20,000 per metric ton, thanks to our long-term customer relationships and our wide range of high-quality lithium products."

Production and Outlook for 2024

Combined sales in the first quarter decreased compared to the previous quarter, primarily due to a drop in spodumene sales caused by lower production at Mt. Cattlin in Australia. However, prices were slightly higher for most lithium products due to an initial improvement in market conditions, though still below the levels of early 2023.

Arcadium Lithium maintains its forecast for achieving cost synergies and savings between US$60 and 80 million in 2024, with the majority of these savings expected throughout the rest of the year. The company has already taken significant measures to reduce costs, including a reduction in its global workforce by approximately 11% during the first quarter, as highlighted in a statement.

Capacity Expansions

Regarding ongoing expansions at its projects, Graves added, "The company is ramping up production in 2024 as planned, while also investing in the next series of expansions. By the end of 2026, we expect to reach a total capacity of 170,000 LCE, more than four times the 2023 production level. This growth trajectory uniquely positions us in the industry."

In Argentina, the 10,000-metric-ton expansion at Fénix, in Catamarca, is fully commissioned and producing near its maximum capacity. The 25,000-metric-ton expansion at Olaroz, in Jujuy, is also in production, though at a slower pace due to the longer extraction process from evaporation ponds.

To fund these expansions in Argentina and those of its projects in Canada, Arcadium Lithium plans to invest approximately US$1.6 billion in growth capital between 2024 and 2026. The company is confident in its ability to complete these projects and will adjust its plans according to market conditions. “With available funding sources, including a US$500 million credit line that can be expanded up to US$700 million, the company is well-positioned for its next growth cycle.”


Edición 529 - Abril 2024
2024 Argentine Mining Compendium
Edición 528 - Marzo 2024
Edición 527 - Febrero 2024
Edición 526 - Diciembre 2023
Edición 525 - Noviembre 2023
Edición 524 - Octubre 2023
Edición 523 - Septiembre 2023
Edición 522 - Agosto 2023
Edicion 521 - Julio 2023
Edición 520 - Junio 2023
Edicion 519 - Mayo 2023


    Expo San Juan
    Lithium in South America
    Gold, Silver & Copper

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