French group Eramet is mothballing its lithium project in Argentina, announcing on Wednesday that its board had decided not to engage the construction of the lithium production plant.
The company in February already placed the project on hold, citing economic and regulatory uncertainty in the South American country.
On Wednesday, Eramet said that the “considerable uncertainty in the global economy and particularly in raw materials markets, including lithium” tripped up the project, as the miner was aiming to preserve cash by reducing investments.