All the latest and greatest news from this past week on Lithium found here!
- The biggest news from this past week was the JV between Mazda and Toyota of which one of the areas of focus is Electric Cars. More on this here:
- FMC, one of the companies that makes up the current Lithium Oligopoly, announced earnings this past week. Some highlights include:
- “Supply / demand dynamics indicate price increases are likely in 2018 and 2019
- They plan to spinoff their Lithium business (more on this to come for us).
- FMC Lithium revenue increased by 17%
- Their outlook for their Lithium business for the full year ahead was increased by 33%!
- Benchmark Minerals agreed to a deal with Bloomberg whereby Lithium prices would start being quoted on their platform.
- ALB announced earnings today (Monday, August 7th). Here are a few highlights:
- Lithium and Advanced Materials reported net sales of $317.9 million in the second quarter of 2017, an increase of 36.2% from second quarter 2016 net sales of $233.4 million.
- Adjusted EBITDA for Lithium and Advanced Materials was $132.5 million, an increase of 60.3% from second quarter 2016 results of $82.7 million.
- The stock is down after hours, but we believe any pullback will be a buying opportunity.
- In case you missed it, The Lithium Spot did an in depth interview with Professor Benjamin Cole on Joint Venture agreements as they relate to the Lithium industry. Article found here!