As at 21 December 2016, circa 6,000 tonnes of lithium concentrate had been produced from Mt Marion, with 3,000 tonnes stockpiled at port, and with trucking continuing around the clock.
The Mt Marion Lithium Project is owned by:
- 43.1% Mineral Resources Ltd (ASX:MIN);
- 43.1% Ganfeng Lithium; and
- 13.8% Neometals Ltd.
Minerals Resources is the project operator and Australia’s largest contract minerals processor.
Ganfeng is China’s leading, most profitable lithium producer and has secured a life-of-mine, take-or-pay offtake agreement for Mt Marion.
Neometals’ current strategy is to grow market cap by maximising return from existing operations, increasing margins via higher value downstream products and developing growth options.
The share price has doubled year to date, currently trading at $0.34.