LPI Focuses on Chile's Maricunga, Spins Off WA Lithium Assets
Lithium Power International (LPI) is reshaping its portfolio, focusing on the Maricunga lithium project in Chile. It plans to sell its Western Australian assets, including tenements near Kalgoorlie and Pilbara, into a new entity called Western Lithium Ltd.
LPI's decision comes as Western Australia solidifies its position as the world's leading lithium region, surpassing Chile. The state is home to prominent miners like Allkem, Mineral Resources, and Liontown Resources. Liontown, recently listed on the Australian Securities Exchange, boasts significant lithium resources at its Kathleen Valley mine and plans for downstream processing.
Allkem's Mt Cattlin mine, its largest asset, is facing slowing production due to depleting reserves. Meanwhile, Mineral Resources mines spodumene concentrate at Mt Marion and plans to commission its own hydroxide processing plant at Kemerton. LPI's tenements, adjacent to the Greenbushes mine leases, remain under its ownership.
LPI's strategic move aims to concentrate resources on the Maricunga project while Western Lithium Ltd will manage the valuable Australian assets. This shift aligns with Australia's crucial role in boosting mineral supplies for renewable technologies, vital for achieving carbon neutrality.
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