Albemarle, the world’s largest lithium company, has warned it could lose market share to Chinese producers after a $4.2bn deal to buy an Australian rival foundered and a collapse in prices prompted a pullback on expansion plans.
The US company last week revealed a review — entailing a reduction and reordering — of its capital expenditure plans in response to investor concerns over spending heavily during a market downturn.
Last month Gina Rinehart, Australia’s richest woman, wrecked Albemarle’s bid to take over Liontown Resources, a crucial acquisition for the company to grow its pool of resources after she built up a strategic stake.
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