As lithium slump drags on, some Australian miners look to grow

SYDNEY — While some lithium miners in Australia weigh scaling back operations in the face slumping prices, others are pushing ahead with expansions or bringing new capacity online in a bid to position themselves for an eventual upswing.

Australia has emerged as the world’s largest supplier of the metal, a key ingredient in EV batteries, but its industry has been pummeled by a downturn in the market, with oversupply pushing prices for spodumene concentrate down more than 80% from their 2022 highs to below $1,000 a tonne.