Name of the Project
Manna lithium project.

Location
Goldfields region of Western Australia.

Project Owner/s
Global Lithium Resources (GL1).

Project Description
A scoping study has confirmed the potential for a globally competitive lithium project.

The scoping study envisages an operation with a life-of-mine of ten years, with an estimated total production of 2.2-million tonnes of spodumene concentrate, based on mineral resources of 32.7-million tonnes at 1% lithium.

The concentrator will have a nameplate capacity of two-million tonnes a year of run-of-mine ore.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at an 8% discount rate, of A$2.8-billion and an internal rate of return of 103%, with a payback of 15 months after first production.

Capital Expenditure
Direct capital costs are estimated at A$299.4-million.

Planned Start/End Date
A final investment decision on the spodumene concentrate operation at Manna is expected in mid-2024, with construction likely to take 22 months, and first spodumene concentrate targeted for production in 2026.

Latest Developments
Global Lithium has reported that it will implement corporate and operational changes owing to a likely protracted downturn in the global lithium market. 

The company has said that it will immediately pause works pertaining to its feasibility study at the Manna project and materially reduce its monthly expenditure on all corporate overheads and operational spending to maintain financial stability.

The lithium miner has said that it will also reduce its board size from four to three members until there is greater certainty in lithium market forecasts.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Global Lithium Resources, email info@globallithium.com.au