Australia's Altura continues lithium ramp-up

Perth-based Altura Mining produced 105,202 wet metric tonnes (wmt) of lithium concentrate in its first year of operation and exported 77,680 dry metric tonnes (dmt) to China.

The company increased output to 42,402 wmt in April-June, the final quarter of its 2018-19 fiscal year and the first full quarter of commercial operation at the Altura project in Western Australia (WA), up from 29,627 wmt in January-March as part of a continuing ramp-up. Offtake shipments to China totalled 38,635 dmt in five separate cargoes in April-June.

Altura, one of the world's lowest cost hard rock lithium operations, had an average cash operating cost of $392/wmt of lithium concentrate in April-June with an average received price of $600/dmt.

The first stage of the project is on track to produce 220,000 t/yr of lithium concentrate. A final investment decision is due this year on establishing a second 220,000 t/yr plant.

Altura's lithium concentrate is exported to China through Port Hedland in WA, which also receives supplies from Pilbara Minerals' neighbouring Pilgangoora project.

Chinese lithium converter Shandong Ruifi this month agreed an offtake deal for a minimum of 35,000 t/yr, adding to existing offtake arrangements with other companies. Another Chinese company, Ningbo Shanshan, acquired an 11.8pc stake in Altura in July.

source: Argus Media