Tianqi Lithium to book $300m in asset write-downs

Tianqi Lithium Corp (SZSE:002466) has announced it expects to recognize asset impairment provisions totaling approximately RMB 2.163 billion in its 2024 financial results. The write-downs primarily stem from the halted second phase of the Kwinana lithium hydroxide project in Australia, with an estimated RMB 1.412 billion allocated to this project alone. Tianqi Lithium's subsidiary, Tianqi Lithium Energy Australia (TLEA), manages the Kwinana project. While the second phase has been terminated, the first phase is currently in the ramp-up stage. The company is conducting ongoing impairment tests and advises investors that the final figures are subject to audit. The official announcement was made on February 20, 2025.