Lithium Joint Venture

LITHIUM JOINT VENTURE

LITHIUM JOINT VENTURE WITH TIANQI LITHIUM CORPORATION

Ownership
IGO 49%

In 2021, Tianqi Lithium Corporation (51%) and IGO Limited (49%) incorporated a new Joint Venture (JV) called Tianqi Lithium Energy Australia (TLEA).

TLEA is focused on developing and operating world class lithium assets, with assets in Western Australia comprising of a 51% stake in the Talison Lithium Pty Ltd (Talison) Greenbushes Lithium Operation (49% owned by Albemarle Corporation) and 100% ownership of the Kwinana Lithium Hydroxide Refinery.

The JV is a global lithium partnership between IGO and Tianqi, a lithium industry leader, and will be the exclusive vehicle for any future lithium related investments outside of China.

GREENBUSHES LITHIUM MINE

IGO/Tianqi JV 51% | Albemarle Corporation 49%

The Greenbushes Lithium Operation is recognised as having the highest-grade ore reserve of any hard rock lithium mine globally, making it one of the world’s lowest cost producers of lithium mineral concentrates. Located approximately 250km south of Perth, Greenbushes is Western Australia’s longest continuously operated mining area. Initially mined for tin minerals from 1888 and later for tantalum, Talison and its predecessor companies have been producing lithium mineral concentrates from Greenbushes continuously since 1983, making it Australia's longest operating lithium minerals producer.

The site comprises a large open pit mine, four processing plants – Chemical Grade Plant #1, Chemical Grade Plant #2 , a tailings retreatment plant and a Technical Grade Plant which produces technical grade lithium concentrates and associated infrastructure. These plants combined have total nominal processing capacity of 6.5 million tonnes per annum producing up to 1.5 million tonnes of lithium mineral concentrate per annum.

Talison is currently constructing a third Chemical Grade Processing Plant (CGP3). CGP3 will have a processing capacity of 2.4 million tonnes per annum producing up to 500,000 tonnes per annum of lithium mineral concentrate. CGP3 is on track for commissioning in mid-2025.

Planning is underway for a fourth Chemical Grade Plant. This project, subject to market conditions and final investment decision, will take the site’s production capacity to 2.0 million tonnes per annum of lithium mineral concentrates with a JORC compliant mine life of 20 years.

Greenbushes Lithium Mine - Chemical Grade Plant 2

KWINANA LITHIUM HYDROXIDE REFINERY 

IGO/Tianqi JV 100%

Kwinana is one of the largest fully automated battery grade lithium hydroxide facilities globally and the first to be built in Australia. Kwinana is approximately 35km south of Perth, Western Australia, and only 200km north of Greenbushes, adjacent to major supply chain logistics.

The first production train (Train 1) commenced commercial production during the December 2022 quarter, and is working towards nameplate capacity of 24,000 tonnes.

TLEA is progressing towards the front-end engineering and design work related to Train 2, which is estimated to be completed in the second half of 2024.

Kwinana forms part of a vertically integrated lithium value chain with Greenbushes supplying the chemical grade lithium spodumene concentrate feedstock required to produce battery grade lithium.

Kwinana will supply lithium hydroxide to customers, which includes leading global battery cell manufacturers from South Korea and Europe. Kwinana's customers will benefit from strong ESG credentials and visibility over both the raw material supply chain and the source of intermediate processing for the premium battery grade lithium hydroxide product.

Kwinana Lithium Hydroxide Refinery