Mineral health check - what do Q1 results say about the state of the industry?

• Autores: Industrial Minerals
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 584, 2016 (Ejemplar dedicado a: Junio)
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • The company saw lithium sales of $60.3m for the quarter, up from $56m in Q1 2015. Q1 earnings were $14.9m, up from $5.5m in 2015.

    Albemarle Corp., the Louisiana, US-based lithium major, meanwhile reported a y-o-y lithium sales increase of 19%. Its lithium business unit brought in net sales of $136.6m in Q1, up 19% from $114.7m in Q1 2015. Adjusted EBITDA** for the lithium business was up 26% y-o-y to $63.8m from $50.6m Meanwhile US-based Intrepid Potash Inc. said it would idle operations at its West potash mining facility in New Mexico after the company reported a loss of $18.4m in the first quarter of 2016, compared with net income of $6.5m in Q1 2015. The Carlsbad-based mine accounted for 42% of the company's MOP output last year, but a combination of decreasing potash prices, high outstanding inventories and foreign competition made the operation uneconomical.