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MinRes and Ganfeng Lithium Approve $490M Investment in Mt Marion Lithium Mine Expansion

GateNews

2026-05-25 23:31:36

According to Mineral Resources (MinRes), the company and joint venture partner Ganfeng Lithium reached a final investment decision on May 26 for Mt Marion lithium mine expansion. The project will construct a flotation plant and develop underground mining, with total capital investment estimated at $490 million on a 100% equity basis. Funding will be allocated across 2027 and 2028 fiscal years, comprising $240 million for the flotation plant, $220 million for underground pre-production development, and $30 million for non-processing infrastructure. At current lithium concentrate prices of approximately $2,700 per ton, the project's payback period is expected to be less than one year.

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