Which ASX lithium share is currently mining profitably in Australia?

The ASX lithium sector is currently grappling with significant challenges, as a steep decline in lithium prices has led to reduced profitability across the industry. Consequently, the share prices of several companies have dropped sharply over the past year. Pilbara Minerals Ltd (ASX: PLS) is down more than 40%, IGO Ltd (ASX: IGO) has fallen over 60%, Mineral Resources Ltd (ASX: MIN) has declined over 50%, Liontown Resources Ltd (ASX: LTR) is down more than 70%, and Sayona Mining Ltd (ASX: SYA) has dropped around 80%.

According to an analysis by Citi reported by the Australian Financial Review, all but one Australian lithium mine were losing money based on the average lithium price during the three months leading up to June 30, 2024.