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Wodgina Lithium Project’s development is progressing as expected which is 100% owned by the Company. Commissioning of the spodumene concentrate processing plant remains on target to commence in October 2018. Through to the second quarter of CY 2019, the plant will progressively ramp up production.
Forecast capital costs of the company for the project is expected to be in the order of $610 million, with a significant portion of these costs already been committed. The new crushing plant, the three spodumene concentrate trains, an airport, the gas pipeline and the power station which are the main items of capital expenditure. The plant will have three trains, with the capacity to produce 750,000 dry metric tons of 6% Li?O spodumene concentrate per annum once it is fully commissioned, increasing to approximately 880,000 dry metric tons if 5.5% spodumene concentrate grade is targeted.
In accordance with the Company’s financial guidance update of 11 April 2018 and the pricing estimates in the Company’s ASX announcement of 7 May 2018, the Company’s forecast sale price for 6% spodumene concentrate remains at US$960 per ton. Mineral Resources is trading at $16.985 with a percentage change of +3.19% as at July 24, 2018, before market close.
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