Galan slows construction pace at Argentina lithium brines project
ASX-listed Galan Lithium has opted to recalibrate its construction schedule for the Hombre Muerto West (HMW) Phase 1 project, in Argentina, citing cash preservation amid current market conditions.
The decision postpones the expected start of production from the lithium brines project to the second half of next year.
Galan has received strong international market interest in the HMW lithium concentrate. “In our view, this evidence indicates that the current lithium pricing environment and market oversupply is not expected to be a long-term trend,” MD JP Vargas de la Vega said on Friday.