Liontown Resources announced it has successfully loaded and dispatched the inaugural shipment of spodumene concentrate – a critical mineral used in the production of lithium-ion batteries – from its Kathleen Valley lithium project in the Goldfields region of Western Australia.
Perth-based Liontown said the maiden shipment of 11,855 wet metric tonnes (wmt) of spodumene concentrate departed Geraldton Port on Friday, enroute to China for an existing offtake customer.
Liontown Managing Director and Chief Executive Officer Tony Ottaviano said the first shipment is a major landmark for the company as a lithium producer and marks the beginning of generating revenue from the Kathleen Valley operations.
“Over the past six years, Liontown has focused on developing and constructing a world-class tier-1 lithium operation, and now we announce the beginning of generating revenue and cash flow, as we see our plans come to fruition,” he said.
In addition to bidding farewell to its inaugural shipment, Liontown announced its first spot sale for uncontracted production with an initial sale of 10,000 tonnes of spodumene concentrate at almost $1,160 (USD 802) a dry metric tonne to a Singapore-based trader. The shipment is scheduled for early in Q4 2024.
“Within two months of first production at Kathleen Valley, we have not only successfully produced and now shipped concentrate, with a weighted average Li2O content of 5.2%, but we have also achieved a sale on the spot market, realising a premium sales price in the current market conditions, and demonstrating the consistent demand for high-grade battery products,” Ottaviano said.
The miner said it has now produced more than 28,000 wmt of concentrate at an average lithium grade of 5.2% from the Kathleen Valley project near Leinster, about 680 kilometres northeast of Perth.
It is expected the operation will initially produce about 500,000 tonnes of spodumene concentrate per annum, but Liontown hopes to eventually expand production to 700,000 tonnes by 2029.
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