On May 26, Australian mining company Mineral Resources (MinRes) announced that it has officially made a final investment decision (FID) with its joint venture partner Ganfeng Lithium to construct a flotation plant and develop underground mining at the Mt Marion lithium project. The total capital investment for the project on a 100% basis is estimated at AUD 490 million, with funds to be allocated across fiscal years 2027 and 2028. This includes AUD 240 million for the flotation plant, AUD 220 million for underground pre-production development, and AUD 30 million for non-processing infrastructure. Based on current spot prices of lithium concentrate (SC6) at approximately US $2,700 per tonne, the payback period for the project is expected to be less than one year.
Edited by Cassie Li, lixiangying@mysteel.com
