UPDATE 2-Downturn in battery raw materials claims more Australian victims [Yahoo! Finance News]
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Source: Yahoo! Finance News
UPDATE 2-Downturn in battery raw materials claims more Australian victims * Albemarle puts newly acquired Wodgina project on ice * Australian Mines loses supply deal with S.Korean customer * Independence decides against building battery plant Recasts, adds background) By Melanie Burton MELBOURNE, Nov 1 Reuters) - One Australian project to supply materials to the battery sector was put on hold on Friday and another lost its sole customer as a prolonged downturn in prices amid slowing electric vehicle EV) sales in China darkened the near-term outlook for demand. Major lithium producer Albemarle, which took control of Australia's Mineral Resources, moved its Wodgina lithium mine straight to care and maintenance due to "challenging" market conditions. Also on Friday, an agreement for battery materials mine developer Australian Mines Ltd to supply cobalt and nickel to South Korean battery maker SK Innovation Co Ltd from its Greenvale mine collapsed, with the companies blaming each other fo
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