MinRes sets its sites on lithium
January27, 2022News Emily Murphy
Mt Marion lithiummine. Image: Mineral Resources
Latest News
§Mining’s greatcomedown: WoodMac forecasts 2022
§AdBlue shortageabates thanks to Incitec Pivot
MineralResources (MinRes) has seen strong growth in its lithium operations withrealised spodumene prices rising 56 per cent from the previous quarter to$US1153 ($1619) per dry metric tonne (dmt), its December quarterly reportshows.
The Mt Marionlithium mine in Western Australia produced 98,000 dmt of spodumene and sawshipments increase by 92 per cent, reflecting the previous quarter’s shipmentbeing delayed to the second quarter of the 2022 financial year.
Further south,the 50ktpa Kemerton Lithium Hydroxide plant is continuing construction, withspodumene ore now introduced into the plant as part of the commissioning process,and commercial production expected in mid-2022.
The restart ofthe Wodgina Lithium mine in the Pilbara is underway with the first spodumeneproduction expected during the first quarter of the 2023 financial year.
While Decembersaw growth for lithium, MinRes felt the effects of falling iron ore priceswhich declined 19 per cent from the previous quarter to $US63.23 ($88.86) perdmt, only 58 per cent of the Platts IODEX benchmark iron ore price.
Unplannedborder closures and lockdowns implemented due to COVID-19 continued to impactMinRes operations throughout the quarter.
Ore mined atthe Yilgarn hub was 11 per cent lower as a result of labour constraints,however, the mine produced a consistent amount of ore at 2.6 million wet metrictonnes (wmt).
Iron oreshipments totalled 4.9 million wet metric tonnes during the quarter, driven bythe growth of the new Wonmunna mine at the Utah Point hub in the East Pilbararegion.
In January2022, iron ore pricesreached four-month highs of $130 per tonne for the first timesince October 2021.
The Decemberquarterly report shows figures up until 31 December 2021, so the recent priceincrease is not reflected in the report.
Good News & Bad News, page-7627
-
- There are more pages in this discussion • 37,670 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add PLS (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$2.98 |
Change
-0.020(0.67%) |
Mkt cap ! $8.972B | |||
| Open | High | Low | Value | Volume |
| $2.92 | $2.98 | $2.90 | $38.78M | 13.16M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 15056 | $2.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.98 | 89928 | 9 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| PLS (ASX) Chart |