Altura closes in on nameplate after record month
Lithium miner Altura Mining is closing in on its nameplate capacity at its namesake project in Pilgangoora, Western Australia, following a month of record production in May.
The project has achieved multiple daily record production levels at or above the nameplate capacity of 220 000 t/y of 6% grade lithium oxide (Li2O), the company reported on Wednesday.
Altura delivered record monthly production of 15 737 wet metric tonnes in May, representing about 86% of the planned nameplate capacity.
The miner said that it was confident that it was on a “clear pathway” to achieving nameplate production, noting that it had reached daily production of up to 742 t of spodumene concentrate in a 24-hour period, compared with a target of 640 t/d.
Overall lithium metal recovery for May remained steady at 62%, which was in line with previous months and forecast. The company aims to bring the recovery levels closer towards the 80% target.
Further, Altura reported that it had sold 24 881 dry metric tonnes (dmt) in the current quarter, with a further 13 000 dmt confirmed to ship in mid-June and an additional cargo planned for late June or early July.
To date, the project has exported 63 706 dmt in nine shipments, with product quality remaining steady at an average of 6% Li2O grade coupled with low mica, low iron and optimal moisture content, in line with previously reported shipped cargo results.
Altura's share price gained 4% on Wednesday, trading at A$0.11 a share, giving the junior a market capitalisation of A$233.80-million.
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