Sydney, October 29th (Argus) - Due to improved ore grade and recovery rate, as well as the rapid restoration of Chemical Grade Plant 3 (CGP3), Australian companyIGO's minority stake project in Western Australia, Greenbushes, increased its lithium output during the period from July to September. The company stated on October 29th that based on SC6, lithium output for this quarter increased by 36% year-on-year, reaching 435,000 tons.
IGO added that the damage caused by the fire that attacked the 500,000-ton-per-year CGP3 plant in June has now been repaired, and the plant has resumed operation at its rated capacity.
Greenbushes sold 376,000 tons of products at an average transaction price of $2,130 per ton.
IGO holds a 49% stake in the joint venture with TALIEN Lithium Australia (TLEA), while TALIEN Lithium holds 51%. TLEA holds 51% of the Greenbush project operated by Talison Lithium, and the other shareholder is an American producer based in the United States, with a 49% stake.
Talison Lithium's lithium hydroxide production at its Quenana refinery in Western Australia decreased by 67% year-on-year to 91.8 tons, but increased by 2% month-on-month. Meanwhile, sales decreased by 68% year-on-year to 92.6 tons, but increased by 7% month-on-month.IGO stated that this indicates that customers remain active.
Robert Carruthers, a director of the International Lithium Association, said at the International Mining and Resources Conference held in Sydney on the same day that the current lithium spodumene price has dropped to the level when most Australian producers were forced to cease operations two years ago.
However, Carruthers also pointed out that Greenbushes continued to produce during the period of low lithium prices in 2023-2024 and will continue to be an Australian project among the best lithium mines in the world in the coming decades.
