(Updates with background, details)
April 20 (Reuters) - Lithium miner Allkem Ltd clocked a 34% rise in its third-quarter revenue on Thursday,
helped by strong output at its Olaroz facility and higher
realised prices as demand for the white metal soars across the
world.
High-quality ore production from the Olaroz lithium facility
in northern Argentina was up about 40% at 4,102 tonnes for the
quarter.
The global producer of lithium received average price of
$53,175 per tonne for its lithium carbonate, resulting in record
revenue of $159 million at Olaroz.
However, benchmark lithium prices, which rallied six-fold
over the two years to November, have started declining lately
due to a drop in electric vehicle sales in China that has hurt
the metal's use in lithium-ion batteries.
The ASX-listed miner reported revenue of $315 million for
the three months ended March 31, compared with $235 million, a
year earlier.
(Reporting by Rishav Chatterjee and Nausheen Thusoo in
Bengaluru; Editing by Shweta Agarwal)
