MinRes places its lithium playing cards on the desk

PERTH (miningweekly.com) – ASX-listed Mineral Sources (MinRes) is hoping to provide as much as 118 000 t/y of lithium hydroxide inside the subsequent 5 years.

In an investor presentation launched to market on Monday, the corporate famous that the Mt Marion operation might contribute 40 000 t/y, whereas the Wodgina operation might produce 70 000 t/y, assuming {that a} last funding resolution was taken on Practice 1, and every of the trains have been delivering at 1 000 t/y spodumene manufacturing capability.

The Kemerton Practice 1 and a couple of operation can also be anticipated to supply 7 500 t/y of manufacturing, MinRes stated.

MinRes informed buyers that the A$120-million two-stage enlargement of Mt Marion to 900 000 t/y combined grade was on observe for December, whereas Practice 3 at Wodgina was nearing the commissioning stage. A choice to assemble Practice 4 was anticipated within the close to time period, the corporate added.

The manufacturing goal follows MinRes in early September confirming that it was contemplating the potential itemizing of its lithium enterprise, as a part of efforts to guage varied strategic choices to maximise shareholder worth.

MinRes on Friday additionally, for the primary time, supplied a mineral useful resource and reserve estimate for the Mt Marion and Wodgina deposits.

The corporate introduced that Wodgina had an indicated and inferred mineral useful resource of 259.2-million, and 1.17% lithium oxide, and an ore reserve of 147-million tonnes at 1.2% lithium oxide.

Mt Marion for its half, has an indicated and inferred mineral useful resource of 51.4-million tonnes, at 1.45% lithium, and an ore reserve of 17.2-million tonnes, at 1.56% lithium.

“We’re happy to report 164-million tonnes of ore reserves and greater than 310-million tonnes of mineral assets, throughout the Mt Marion and Wodgina deposits. The top quality and scale of those Tier 1 belongings in Western Australia underpin MinRes’ place as a number one world lithium producer,” stated MD Chris Ellison.

“We’re ideally positioned to proceed the key expansions at each tasks to ramp up spodumene focus output for lithium hydroxide conversion for a lot of many years to return.

“Vital alternative exists to additional develop the mineral endowment at each operations by means of close to mine exploration actions.”

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