Australian lithium explorer Lake Resources cuts workforce by 50% amid lower lithium prices due to Chinese oversupply and EV concerns, focusing on Argentina's Kachi project.

Lake Resources, an Australian lithium explorer, has announced plans to cut its workforce by 50%, including executive team members, due to lower lithium prices caused by Chinese oversupply and concerns over the electric vehicle industry. The company aims to reduce costs, sell non-core assets, and focus on its Kachi project in Argentina. Lake Resources anticipates these changes will continue until the second half of 2024.

July 01, 2024
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