Historically the company has supplied the white metal for use in greases and other industrial products.
Livent Corp Mining News
Lithium chemicals supplier Livent Corp. saw its shares tumble by over 22% on Wednesday on the back of a disappointing Q1 earnings release.
The action will increase Livent's sale taxes in China but give it greater access to growing markets for lithium in Japan, South Korea and elsewhere.
The company, which produces lithium in Argentina, posted net income of $25.9 million, or 18 cents per share.