Australian Lithium Miner Shuts Project as Industry Grapples with Glut

Australian miner Mineral Resources Limited is shutting down its Bald Hill lithium mine amid a crash in lithium prices, in another project curtailment in the industry that has seen prices tumble by 80% from their peak in 2022. Slower electric vehicle (EV) sales globally and an oversupply on the market with African lithium mined by Chinese companies have kept lithium prices subdued this year. Lithium miners have seen profits and margins shrink and projects curtailed or deferred until market conditions improve. So Australia’s Mineral Resources…