Liontown, Pilbara commit to $800m lithium investment

Liontown Resources and Pilbara Minerals will spend more than $800 million to expand lithium production as both seek to capitalise on the global push to decarbonise and accelerate the uptake of electric vehicles that has lifted prices of battery metals such as lithium to record levels.

“The signing of our third and final foundational offtake agreement is a momentous milestone for Liontown and the Kathleen Valley project, with approximately 90 per cent of Kathleen Valley’s start-up capacity now under secured long-term binding offtake agreements,” said Liontown’s managing director and chief executive, Tony Ottaviano.

Mining is expected to begin next year. Moving to reassure the market that the timetable could be met amid global supply bottlenecks, Liontown said it had placed orders for nearly three-quarters of the equipment needed for the processing plant. Pilbara Minerals said it would spend $297.5 million to increase production capacity at its Pilgangoora project in Western Australia.

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Ford Motor Company backs new $545m lithium mine in WAASX-listed Liontown Resources signs a deal with US motoring giant Ford to develop a $545 million lithium mine to supply the metal used in electric vehicle batteries. Lol, they'll need more than that to produce enough materials for their pipedream. If it wasn't for countries like Australia, other, more progressive countries wouldn't be able to 'value-add'. Good to see we're doing our bit for the world economy. It should make every Australian proud. 🙃 Australia needs absolutely no assistance in digging up our natural resources, building factories to manufacture products from those resources it seems is totally beyond us.
Source: abcnews - 🏆 5. / 83 Read more »