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Aracadium's Q3 profit drops 82% on tumbling lithium prices
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Aracadium's Q3 profit drops 82% on tumbling lithium prices
Nov 9, 2024 12:35 PM

Nov 7 (Reuters) - Arcadium, the lithium

producer that has agreed to sell itself to Rio Tinto,

said on Thursday its quarterly income fell 82% due to sliding

prices of the electric vehicle battery metal.

The company posted third-quarter net income of $16.1

million, or a penny per share, compared to $87.4 million, or 17

cents per share, in the year-ago quarter. The company does not

plan to hold a conference call to discuss the results.

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