Ann: Leo Lithium Addresses Media Speculation, page-62

The refinery was originally meant to cost $299 million. By 2019 Tianqi increased investment to $525 million and postponed it to 2020, then by August 2020 Kwinana Phase 1 was put on hold as costs doubled.
It turns out the company’s investment per ton of lithium hydroxide ($/tLiOH) for Kwinana was 10 times higher than a similar converter Ganfeng developed in China.
hydroxide can finally be produced in Australia
Mining
May 20, 2022 | Emma Davies

• IGO’s Kwinana plant has successfully produced lithium hydroxide
• Cost blowouts and delays meant the refinery cost 10x more than a Chinese plant
• The lithium hydroxide price is $US70,625/t and not showing signs of slowing down

In an Aussie first, IGO (ASX:IGO) has hit a major milestone for its lithium joint venture with Tianqi Lithium Corporation, producing battery grade lithium hydroxide from its Kwinana refinery.
The JV has successfully and consistently produced battery grade lithium hydroxide from spodumene sourced directly from the Greenbushes mine 250km southwest of Kwinana (Albemarle 50%, Tianqi Corporation 25%, IGO Ltd 25%).
“Vertical integration into downstream processing is a key plank in IGO’s strategy and we are proud to be involved in the first production of lithium hydroxide in commercial quantities in Australia,” IGO MD and CEO Peter Bradford says.
“The joint venture’s interest in both the upstream mining asset at Greenbushes and the downstream refinery at Kwinana is emerging as a globally significant, integrated lithium business.”
Producing lithium hydroxide in commercial quantities is kind of a big deal. It’s a key component in electric vehicle high nickel battery cathode chemistry, delivering higher energy density and longer driving distances between charges.

But it’s been a rough road to get to this stage

Tianqi faced cost overruns and delays at the refinery in Australia which started construction in 2017 and was supposed to be commissioned by 2018.
The refinery was originally meant to cost $299 million. By 2019 Tianqi increased investment to $525 million and postponed it to 2020, then by August 2020 Kwinana Phase 1 was put on hold as costs doubled.
It turns out the company’s investment per ton of lithium hydroxide ($/tLiOH) for Kwinana was 10 times higher than a similar converter Ganfeng developed in China.