IGO and Tianqi’s partner doing OK? And battery grade lithium...

IGO and Tianqi’s partner doing OK?
And battery grade lithium hydroxide was expected to be produced at the Tianqi/IGO Kwinana plant this month!
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https://thewest.com.au/business/min...ts-14pc-on-improving-lithium-market-c-6167364
Talison profit lifts 14pc on improving lithium market

Stuart McKinnonThe West Australian
Wed, 23 March 2022 8:40AM
Stuart McKinnon


The Greenbushes Lithium Operations visit. Ian Munro The West Australian 16/08/2018 Credit: Ian Munro/Kalgoorlie Miner


The owner of WA’s famed Greenbushes lithium mine in the State’s South West has booked a 14 per cent lift in profit to $225 million on the back of surging prices for the battery metal.

The annual filings lodged with the corporate regulator by the joint venture owner, Windfield Holdings, which trades as Talison Lithium, show the result came on the back of a 70 per cent jump in revenue to $685m.

Total dividends of $189.5m were paid to shareholders in three instalments over the year compared with $200m the previous year.

In a brief statement accompanying the results, Windfield said it continued the significant expansion of its operations in Greenbushes during the year.

The mine’s chemical grade plant 2 was restarted in July which took the operation’s processing capacity to 1.34 million tonnes a year of lithium concentrate.

The company flagged plans for a third processing plant in October and last month committed to a further $1.4 billion expansion of the mine.

Ownerships arrangements for Greenbushes changed during the year with IGO becoming a co-owner in Tianqi Lithium’s 51 per cent stake in the mine. The 49 per cent balance is held by US chemicals giant Albemarle.

The change came via a $US1.4b deal that saw the Peter Bradford-led company take a 24.9 per cent stake in Greenbushes and a 49 per cent holding of the Chinese company’s lithium hydroxide plant at Kwinana.

Windfield held $15m in cash at the end of December, down from $100m the previous year.

Capital spending at the mine rose 12 per cent to $147 million.

Greenbushes contains the world’s largest known and highest grade deposit of lithium mineral spodumene.