Mineral Resources (MIN) brings forward lithium production
MIN +5.69%: following the surge in demand for lithium, Mineral Resources has announced it will accelerate its growth plans for both the Wodgina and Mt Marion assets. At Wodgina, they’re expecting first production from Train 1 to hit in May, and has now accelerated the resumption of production at Train 2 for first production in July. They also flagged the potential for 2 more trains if the lithium market continues to tighten with discussions planned with their JV partners Albemarle at the back end of the year. Their Mt Marion processing facility will now also be upgraded to produce an extra 30%, lifting capacity to 600kt a year. An additional 300kt capacity will also be added towards the end of the year as MinRes looks to take advantage of the higher prices in the market
