August 8, 2019 / 1:32 PM / 2 months ago

Albemarle to delay construction of 125,000 tons of lithium processing capacity

Aug 8 (Reuters) - Albemarle Corp said on Thursday it would delay construction of about 125,000 tons of additional lithium processing capacity as an oversupply of the white metal used to make electric vehicle batteries has pushed down prices.

Albemarle said the plan would reduce capital expenditure by about $1.5 billion over the next five years, adding that it expects to become free cash flow positive in 2021. (Reporting by Arathy S Nair in Bengaluru; Editing by Anil D’Silva)

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