Business
Lithium miner Orocobre (ASX:ORE) share price down after AGM // Motley Fool Australia
Orocobre Limited (ASX: ORE) shares have slipped 1.99% after its annual general meeting (AGM) this morning. Management detailed the struggles the company has faced in 2020 due to costs arising from COVID-19, as well as the persistently low lithium market price. At the time of writing, the Orecobre share price is trading at $2.96.
Highlights from the AGM
Orecobre says that its financial performance reflected the difficult lithium market conditions with persistent oversupply and weak prices. In the second half of FY20, coronavirus impacts made the situation worse by reducing global production in battery and electric vehicles. In response to these external factors, the company reduced production rates, and brought forward planned…
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