Mineral Resources, Ganfeng Approve $352 Million Lithium Plant, Underground Project
By Rhiannon Hoyle
Mineral Resources and Ganfeng Lithium Group approved plans to build a flotation plant and develop underground mining at the Mt. Marion lithium operation, a project designed to tap deeper, high-grade ore and improve plant recoveries.
The projects will cost a combined 490 million Australian dollars, equivalent to US$352 million, Mineral Resources said in a statement Tuesday. The miner said the capital investment will be made across fiscal 2027 and 2028, and that the payback period at current spodumene prices was less than a year.
The project will help the companies access additional mineral resources below the existing open pit, Mineral Resources said.
"Underground mining and flotation will work together to access deeper, high-grade ore, lift recoveries and produce a single 5% product," said Managing Director Chris Ellison.
"This high-return brownfield investment sets up Mt Marion for decades to come," he said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
May 25, 2026 18:59 ET (22:59 GMT)
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