Arcadium Lithium is a global lithium chemicals producer formed from the January 2024 merger of Livent and Allkem. Arcadium mines lithium from brine deposits in Argentina and hard rock deposits in Western Australia, converts the raw material into battery-grade lithium hydroxide and lithium carbonate, and sells these compounds primarily to cathode producers and cell manufacturers in Asia, with growing demand expected in North America and Europe. Hydroxide and carbonate together represent roughly three-quarters of revenue. Arcadium also produces butyllithium (used in polymer and pharmaceutical manufacturing) and high-purity lithium metal (used in aerospace and non-rechargeable batteries), both of which command significant price premiums over battery chemicals and provide revenue stability. Arcadium's downstream conversion assets include hydroxide plants in North Carolina, China, and Japan. The company's core margin advantage comes from its low-cost Argentine brine operations, which are considered first-quartile cost globally. Roughly two-thirds of hydroxide volumes are sold under multi-year contracts with pricing floors, insulating a meaningful portion of revenue from spot price declines. The remaining volumes — plus most carbonate and spodumene — are sold at or near market prices. Arcadium has recently completed several capacity expansions and is guiding to volume growth with limited incremental capital required. In response to weak lithium prices, Arcadium has sequenced its growth pipeline, pausing the Galaxy/James Bay and Fénix Phase 1B projects while continuing Sal de Vida and the Nemaska Lithium joint venture in Quebec.