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Arcadium Lithium profit falls on weak prices

Reuters · 05/07 20:09

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Arcadium Lithium profit falls on weak prices

May 7 (Reuters) - Arcadium Lithium ALTM.N, formed earlier this year by the merger of U.S. lithium miner Livent and Australia's Allkem, on Tuesday posted lower first-quarter profit, hit by a decline in prices.

The producer of key electric vehicle (EV) battery metal posted income of $15.6 million, or 1 cent per share, for the three months ended March 31, down from $114.8 million, or 23 cents per share, last year. The results were consolidated between the two combined companies.

(Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)

((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94 ;))

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