Livent Begins Third-Party IRMA Assessment in Argentina, Welcomes Opportunity to Strengthen Sustainability Program

PHILADELPHIA, Feb. 15, 2022 /PRNewswire/ -- Livent Corporation (NYSE: LTHM) today announced that it has begun a voluntary, third-party assessment of its brine-based lithium extraction and manufacturing operations at the Salar del Hombre Muerto, Catamarca, Argentina.  This independent assessment of the company's Fenix site is the next step in the multi-stage review against the Initiative for Responsible Mining Assurance (IRMA) Standard for Responsible Mining. 

The IRMA Standard is widely considered to be the most comprehensive and rigorous set of requirements for mining industries, with a multi-stakeholder approach for defining robust criteria and evaluating performance in environmental management, labor practices, human rights, health & safety and community interests.   

Livent began the IRMA self-assessment of its Fenix site in February of 2021, becoming the first company in Argentina to begin the process and one of the first in the global lithium industry.  With the commencement of the third-party assessment, Livent is now a full member of IRMA, joining other leading companies and organizations around the world who share the objective of advancing responsible mining.

"We began our journey with IRMA knowing that it would be an intensive, multi-year undertaking.  Despite the demanding process, our teams are excited about beginning this next stage and welcome it as an opportunity for Livent to strengthen our sustainability program, including our efforts to engage with our local communities," said Paul Graves, president and chief executive officer of Livent.  "We fully support IRMA's mission and are confident that Livent's participation in IRMA will result in better outcomes for our company, our stakeholders in Argentina and around the world, and the lithium industry as a whole."     

"Increasingly, the world wants to understand the impacts of raw material extraction and to better protect communities and the environment on which we all depend.  The Fenix assessment provides an opportunity for Livent to encourage input, increase transparency and explore ways to improve practices at the site," said Aimee Boulanger, IRMA's Executive Director.

SCS Global Services (SCS), an IRMA-approved certification body, is conducting the third-party assessment, beginning with a desk review followed by an onsite audit.  The auditors will review and verify data and policies; interview site managers, employees and external stakeholders, including nearby communities; identify areas for improvement; and publicly disclose the assessment results on the IRMA website.  

Interested stakeholders and members of the public can visit the Mines Under Assessment page of IRMA's website for up-to-date information on the Fenix site assessment.

About Livent 

For nearly eight decades, Livent has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation, and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. The company has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy, and specialized innovations, including light alloys and lubricants. Livent employs approximately 900 people throughout the world and operates manufacturing sites in the United States, England, India, China and Argentina. For more information, visit Livent.com.

About IRMA

IRMA envisions a world where the mining industry respects the human rights and aspirations of affected communities; provides safe, healthy, and supportive workplaces; minimizes harm to the environment, and leaves positive legacies. IRMA offers objective, independent third-party verification of industrial-scale mine sites against a comprehensive definition of responsible mining agreed to through a collaborative, multi-stakeholder process. This definition, which forms the basis of IRMA's Standard for Responsible Mining, covers the full range of issues related to the impacts of mining.  Learn more at: responsiblemining.net

Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:  This release contains forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These factors include, among other things, the risk factors and other cautionary statements included within Livent's 2020 Form 10-K filed with the SEC as well as other SEC filings and public communications. Livent cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. Livent undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.

The Company's investor relations website, located at https://ir.livent.com, should be considered as a recognized channel of distribution, and the Company may periodically post important information to the website for investors, including information that the Company may wish to disclose publicly for purposes of complying with federal securities laws. 

SOURCE Livent Corporation