logo
Albemarle says Chile lithium plant operating normally after incident last week

Albemarle says Chile lithium plant operating normally after incident last week

Reutersa day ago
SANTIAGO, Aug 12 (Reuters) - Albemarle's (ALB.N), opens new tab La Negra lithium processing plant in Chile is operating normally after an "incident" last week, the company told Reuters on Tuesday, after a local lawmaker said authorities had opened an investigation.
There were no injuries and sales of the metal used to make lithium-ion batteries are not expected to be affected, Albemarle said, without providing additional details.
It was not immediately clear if operations had temporarily shut down last week. Albemarle gave no more details of the incident.
Jaime Araya, who represents the Antofagasta region where the plant is located in the Chilean Congress' lower house, the Chamber of Deputies, last week sent a letter to Chile's mining regulator and labor office requesting an inspection of the site after receiving a complaint that a pipe containing acid had burst.
Araya on Tuesday told Reuters he was informed that the labor inspector's office had opened an investigation.
A source familiar with Albemarle's operations said such probes are standard procedure and that the plant is operating normally. A second source added that the problem affected only one tank.
A union leader for plant workers, Elias Torres, said he could not comment because an investigation was underway.
The labor inspector's office said it could not provide information because the matter was under review.
Albemarle's shares were down slightly in Tuesday midday trading to $80.14.
Charlotte, North Carolina-based Albemarle on Monday said its Chief Operating Officer Netha Johnson will leave the company as part of a management reorganization. Johnson's exit is not connected to the Chilean incident, a source told Reuters.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Brazil unveils aid package for exporters hit by U.S. tariffs
Brazil unveils aid package for exporters hit by U.S. tariffs

Reuters

time44 minutes ago

  • Reuters

Brazil unveils aid package for exporters hit by U.S. tariffs

BRASILIA, Aug 13 (Reuters) - Brazil's government unveiled on Wednesday a long-awaited aid package for companies hurt by steep tariffs imposed by U.S. President Donald Trump on many goods from that country. The South American nation will extend a program that returns part of the exported value to all companies that ship to the United States, Vice President Geraldo Alckmin told an event in Brasilia. The plan also includes government purchases of products that would initially be exported to the United States, he added.

Walmart broadens 10% staff discount to include most grocery products, WSJ reports
Walmart broadens 10% staff discount to include most grocery products, WSJ reports

Reuters

time44 minutes ago

  • Reuters

Walmart broadens 10% staff discount to include most grocery products, WSJ reports

Aug 13 (Reuters) - Walmart (WMT.N), opens new tab has expanded its 10% employee discount to nearly all of its grocery items, as the retail giant looks to retain workers, the Wall Street Journal reported on Wednesday, citing a letter from chief people officer to the company's staff. The 10% discount, previously available on products such as fresh produce and general merchandise, now extends to almost all grocery purchases at its stores and online, effective immediately, according to the report. Walmart, the largest private employer in the country, did not immediately respond to a Reuters' request for comment.

Dollar extends weakness as anticipation mounts of Fed interest rate cut
Dollar extends weakness as anticipation mounts of Fed interest rate cut

Reuters

timean hour ago

  • Reuters

Dollar extends weakness as anticipation mounts of Fed interest rate cut

NEW YORK, Aug 13 (Reuters) - The dollar fell for a second straight session on Wednesday, a day after a U.S. inflation reading increased expectations of a Federal Reserve rate cut next month, and renewed pressure from President Donald Trump for lower rates added to the sell-off. The dollar index , measuring the currency against a basket of peers, fell 0.2% to 97.81, its lowest since July 28, extending its 0.5% drop on Tuesday. U.S. consumer prices increased marginally in July, data showed on Tuesday, in line with forecasts and as the pass-through from Trump's sweeping tariffs to goods prices has so far been limited. Investors priced in a 98% chance the central bank would ease rates next month, according to LSEG data. On Wednesday, Treasury Secretary Scott Bessent called for a "series of rate cuts," and said the Fed could kick off the policy rate easing with a 50 basis point cut. The day before, U.S. President Donald Trump, who has repeatedly criticised Fed Chair Jerome Powell for not easing rates sooner, had added to the pressure on the Fed. White House spokeswoman Karoline Leavitt said that the president was considering a lawsuit against Powell in relation to his management of renovations at the central bank's Washington headquarters. "I think there is quite significant pressure on the Fed from the political side of Washington to get moving on interest rates," Shaun Osborne, chief currency strategist at Scotiabank, said. Michael Pfister, FX analyst at Commerzbank, said these political developments carried echoes of autocratic countries, where heads of statistics agencies or central banks are replaced and critical data series often discontinued or manipulated. "I'm not saying that this will necessarily happen here. But the developments of the last few days and weeks do not exactly fill me with optimism about the future, or the U.S. dollar," Pfister said. Trump also hit out at Goldman Sachs (GS.N), opens new tab CEO David Solomon, saying the bank had been wrong to predict U.S. tariffs would hurt the economy. Trump questioned whether Solomon should lead the Wall Street institution. The dollar's weakness supported the euro and sterling . The single currency was last up 0.3% to $1.1705, briefly hitting its highest since July 28. Similarly, the British currency rose 0.5% to $1.3572, briefly hitting its highest since July 24. Britain's jobs market weakened again, though wage growth stayed strong, according to data on Tuesday, underscoring why the Bank of England is so cautious about cutting interest rates. The Australian dollar was up 0.3% to $0.6550, while the New Zealand dollar rose 0.5% to $0.5982. The Reserve Bank of Australia on Tuesday cut interest rates as expected, and signalled further policy easing might be needed to meet its inflation and employment goals as the economy lost some momentum. In cryptocurrencies, ether scaled a nearly four-year high of $4,734.47. "Ethereum's quiet breakout is being fuelled by real-world adoption and capital confidence," said Gracie Lin, Singapore CEO of crypto exchange OKX. "On our platform, ETH has now overtaken BTC as the most traded asset over the past month."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store