Mineral Resources doubles down despite lithium rout
Chief executive Chris Ellison has spent years assembling a billion-dollar bet on Australian lithium. Even he concedes the market is now in uncharted territory.
Mineral Resources chief executive Chris Ellison expects more price shocks to come in the lithium market. That will likely only increase his stranglehold on the Australian sector.
Addressing analysts during a quarterly update on Thursday, Ellison warned the market was about to go through even more pain as plummeting lithium prices sent shockwaves through the mining industry.
“There's a lot of uncertainty around the lithium market and we're going into uncharted territory,” Ellison said, adding he expected prices to continue declining for "the next three to six months".
“But it's not the first or second time we’ve been through one of these cycles and so the business is in good shape and we're well prepared."
