Overview

The Mt Marion Lithium Project is located approximately 40km south west of Kalgoorlie, Western Australia and is jointly owned by Neometals Ltd (13.8%), one of China's largest lithium producers Jiangxi Ganfeng Lithium Co., Ltd (43.1%) and a local mining services business (43.1%).

Operations

  • Construction commenced in DecQ 2015.
  • Commissioning in mid-2016.
  • MinRes funds / operates the project from mine to port
  • Current JORC-compliant resource of 77.8Mt @ 1.37% Li2O.
  • 6 deposits all open along strike and at depth.
  • Ore fresh from surface and visually distinguishable (white).

History

Neometals initially signed a farm-in agreement in October 2009 with a local mining services business (MinRes) which saw Neometals retain 100% ownership of the project while MinRes would fund all development costs and build, own and operate the processing facilities in order to earn a 40% share of net profit.

In February 2011 this agreement was amended so that instead of MinRes having a right to 40% profit from sales, they will now have a direct 30% ownership of the project.

In September 2015, an agreement was executed between Neometals, MinRes and Jiangxi Ganfeng Lithium which resulted in Ganfeng taking a 25% in the Mt Marion mine and also agreeing to a life-of-mine offtake agreement.

Mt Marion Lithium Project - March 2017

Project updates

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  • Neometals to progress integrated lithium chemical production strategy

    Neometals Ltd advises that the sale notice period for its 13.8% equity stake in the Mt Marion Project as originally announced on 7th April 2017, closed, without receipt of a compliant offer.

    The Company has now determined that the retention of the Project equity is in the best interests of shareholders’ given the improved offtake pricing structure and levels, and the achievement of significant Project milestones in the intervening period. The Company believes that these factors have materially enhanced the Project’s intrinsic value.

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  • Update - Mt Marion Lithium Operations

    Mineral Resources Limited (ASX: MIN) and Neometals Ltd (ASX: NMT) advise that pursuant to the terms of the Offtake Agreement with their partner, Ganfeng Lithium, effective from 1 July 2017 the price payable per dry metric tonne of 6% spodumene concentrate produced at Mt Marion and delivered CFR China (Incoterms 2010) increased from US$750 to US$841.

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  • Mt Marion Lithium Operation Update

    Neometals confirms the Mt Marion operations have shipped a total of 79,000t of concentrates from February to the end of May, including 30,055t in May (majority 6% Li2O). A shipment of 35,000t of similar quality is expected to depart on or about 27 June with another 15,000t expected the first week of July.

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  • Mt Marion Project Update

  • Mt Marion Lithium Project Shareholding - Sale Notice Update

  • Mt Marion Lithium Project Shareholding - Sale Notice

    Neometals Ltd advises that it gave notice on 23 March 2017 to its joint venturers in the Mt Marion Lithium Project that it proposes to sell all its 13.8% stake in the project vehicle, Reed Industrial Minerals Pty Ltd, for a price of US$96,001,080.

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  • Letter to Shareholders re Mt Marion Sale

  • Mt Marion - Second lithium shipment

    The second shipment of lithium concentrates from the Mt Marion Lithium Project (‘Mt Marion’) has departed from the Port of Kwinana.

    The 16,662 tonne shipment containing concentrate at +6% and +4% Li2O was loaded onto the MV Babuza Wisdom which departed Kwinana on Tuesday 14th March enroute to Ganfeng’s receiving facility at Zhenjiang Port, China.

    This shipment follows the maiden shipment of 15,000 tonnes which departed on 6 th February 2017, while the next shipment of approximately 18,000 tonnes of concentrate is expected to be loaded early April, on the MV Pacific Venus, which is returning to port after sailing with the maiden cargo.

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  • Mt Marion Project Update

  • First Lithium Shipment from Mt Marion

    Mineral Resources Limited, Neometals Ltd and Ganfeng Lithium Co. Ltd wish to advise the market of the inaugural shipment of lithium concentrates produced at the Mt Marion Lithium Project in Western Australia.

    The first shipment of 15,000 tonnes of lithium concentrates have been loaded onto the MV Pacific Venus at the Port of Kwinana and last night departed on its journey to the Zhenjiang Port, China where it will deliver the product to Ganfeng.

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