Tianqi Lithium (09696.HK): By the end of 2023, the total amount of mineral resources increased to 447 million tons after the Greenbush spodumene mine was renewed

Gelonghui Finance ·  Feb 20 06:08

Gelonghui, Feb. 20 | Tianqi Lithium (09696.HK) announced that recently, Tianqi Lithium Co., Ltd. (hereinafter referred to as the “Company”) received a notice from TalisonLithium Pty Ltd (hereinafter referred to as “Thalison”), a wholly-owned subsidiary of Windfield Holdings Pty Ltd. Thalison recently updated the resource volume and reserve estimates for the Greenbush spodumene mine it owns in Australia. The relevant content has been assessed by AMC Consultants, a specialized agency.

As of December 31, 2023, the total mineral resources of the Greenbush spodumene mine increased to 447 million tons, with an average grade of lithium oxide of 1.5%, equivalent to about 16 million tons of lithium carbonate equivalent; the total confirmed and estimated ore reserves of the Greenbush spodumene mine after this update increased to 179 million tons, with an average grade of lithium oxide of 1.9%, equivalent to about 8.5 million tons of lithium carbonate equivalent.

The company indirectly holds a 51% interest in the Thalison Greenbush spodumene mine through Tianqilithium Energy Australia Pty Ltd (51% shareholding), a holding subsidiary located in Australia. Although professional institutions have assessed the resources and reserves of the Greenbush spodumene mine, there is still a risk that the total amount of resources and reserves are inconsistent with the actual total amount of resources, reserves, and actual recoverable reserves. Investors are kindly requested to invest rationally and pay attention to investment risks.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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