Altura Mining is producing lithium mines in Western Australia

After completing its first phase trial of its flagship Altura lithium project in Pilgangoora, West Australia, lithium product developers and the upcoming AlturaMining (ASX:AJM) are preparing to launch their first lithium concentrate in July 2018. mine.

The milestones of the trial run marked an important step for Altura and brought the emerging lithium-ion battery developers closer to production.

Altura's goal is to produce an annual production target of 220,000 tons of 6% lithium oxide (Li2O). The follow-up investment decision has not yet been determined and will start the second phase.

Altura said its board of director plans to make a final investment decision for the second phase of expansion before the end of the fiscal year, which will transform the first phase of the project team into a continuous work front.

Altura is currently leading the way in the independent supply of lithium raw materials, and its Pilgangoora-based project will become one of Australia's next major hard rock lithium resources later this year.

Expected lithium production

Altura said that its lithium project is "the most advanced stage, the recent production of lithium projects", the project also has "stable partners", has been waiting for its finished lithium concentrate products.

Lithium Junior also said that the broader lithium market is currently providing a large number of growth opportunities, which may help ensure positive shareholder returns.

In April of this year, Altura announced its final feasibility study, doubling the production of the Altura lithium project, showing strong economic benefits. Altura is likely to achieve 440,000 tons of 6% lithium concentrate production per year, but it will cost approximately $118 million in additional capital expenditures.

The feasibility study predicts that Altura may meet the standard of A$4.38 billion in total revenue, with a project payback period of 2.3 years and mine revenue of A$2.45 billion.

Altura said that although its main power plant is scheduled to go online on June 1, 2018, the classification circuit, dense medium separation module and ball mill are about to be completed, but there are still several unfinished milestones to be completed before the plant is built.

“We have to remember that this is a new site that requires the procurement and installation of all site infrastructure. I have the ability to commission a processing plant with dense media separation and flotation circuits and turn us into a manufacturer. The ability is very confident," said Mr. James Brown, Managing Director of AlturaMining.

As its lithium project preparation and commissioning activities increase, Altura said it will provide further updates as appropriate. At the same time, its share price also reached 0.40 US dollars per share, an increase of about 2.6%.

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