One of the world’s largest lithium producers has cast doubt on its future in Australia less than a year after flagging it would aggressively pursue investment opportunities in the country, and is instead preparing to exit in favour of South America and Canada.

Arcadium Lithium was officially created in January with the $9.7 billion merger of New York-listed Livent and Australia’s Allkem. At the time of the deal, Arcadium’s chief executive Paul Graves said the company intended to maintain a major presence in Western Australia, where Allkem operated the Mt Cattlin site south-east of Perth.