Arcadium Reports Decline in 2024 Lithium Sales and Pauses Galaxy Project Ahead of Rio Tinto Acquisition

Arcadium Lithium

Lower Realized Prices and Reduced Spodumene Output Weigh on Results as Company Prepares for Strategic Transition

Arcadium Lithium Sales Dip in 2024 Amid Softer Prices and Supply Constraints

Arcadium, the U.S.-based lithium producer formed from the Allkem–Livent merger, reported a decline in lithium product sales on a lithium carbonate equivalent (LCE) basis in 2024, along with a drop in average realized prices. The company posted net income of $131.7 million, down sharply from $330.1 million in 2023.

Arcadium sold 42,300 metric tonnes of lithium salts, including lithium hydroxide and carbonate, alongside 140,000 dry metric tonnes (dmt) of spodumene concentrate. Despite stronger lithium carbonate and hydroxide sales, total LCE volumes dipped slightly due to lower spodumene output at its Mt Cattlin mine in Australia.

Galaxy Project Paused Amid Market Weakness and Pending Rio Tinto Deal

The company has paused investment in its Galaxy spodumene project in Canada, originally planned to deliver 40,000t LCE capacity. This reflects both near-term market caution and strategic considerations as Rio Tinto advances its acquisition of Arcadium.

As a result of the pending acquisition, Arcadium will not provide 2025 guidance or hold an earnings call. The Rio Tinto deal signals ongoing consolidation in the global lithium sector as major miners seek to secure critical battery material supply.

Although 2024 volumes held relatively steady, the combination of lower prices and production adjustments significantly impacted earnings—highlighting the importance of cost discipline and portfolio optimization amid market fluctuations.