MIN annual report Mt Marion contribution

COMMODITIES – LITHIUM MT MARION
• First lithium shipment from Mt Marion was exported in early February. The plant has now been ramped
up to full scale operations during FY17 with 116Kt exported
• Currently producing above 400Ktpa of 6% and 4% annualised product
• Full production of 400Ktpa of 6% product by end of FY18 once additional processing circuit is installed
• Increased JORC resources at Mt Marion increasing mine life to >30 years (78Mt at 1.37% Li) with
substantial out-cropping targets available for future drilling
Notes:
• Costs include arms length mining infrastructure service agreements with MRL
• RIM went into commercial production on 1 March 2017. The production costs net of sales receipts of 37Kt of spodumene produced pre 1 March 2017 were capitalised in line
with accounting standards. Accordingly, unit revenues and costs set out above for 2H FY17 are derived on 79Kt of spodumene produced post commercial production
Mt Marion Project 2H FY17 1H FY18
(Actual) (Forecast)
6% Tonnes exported 000 WMT 50 100
4% Tonnes exported 000 WMT 66 100
Total Tonnes exported (100%) 000 WMT 116 200
Revenue A$/WMT 782.9 823
C1 costs A$/WMT 570.9 369
Total expenses A$/WMT 658.0 460
EBITDA A$/WMT 124.9 363
MRL Share (43.1%) A$/WMT 53.8 156