Bikita/Sinomine has built two plants in the last two years. The following from Google Earth - both sites brown/green field two years ago. So quite a significant achievement.
I'm assuming this is the WOF one..
and this the DMS.
At the beginning of October they cancelled several contractor contracts. I am assuming they have stopped mining Petalite but are continuing to process ore stocks but not actually mining more.
They have also announced a USD 0.5 Billion plan to create a sulphide plant - this in response to government requirements to post processing of ore into a more finished item. As an existing miner they probably have a period to action this but probably have to be seen to be doing something. Transport/shipping wise it would have some advantages.
They, like Liontown, have been complaining to the government on the difficulties of mining with the low prices.
In the spglobal article it states... "Sinomine has some petalite raw material reserves and its spodumene production can basically meet the demand of the company's existing smelting capacity, the company said."
If this is the case why are they buying from Liontown?
It could mean the spreadsheet decided it is a better deal than mining your own in Zimbabwe, or demand ex smelter is such that Bikita can't produce enough spod themselves.
All my opinion and maybe incorrect interpretation of published information.
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Price($) | Vol. | No. |
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