MinRes, Jiangxi Ganfeng to invest $351m in Mt Marion lithium project
Australia's Mineral Resources (MinRes) said on Tuesday it has reached a final investment decision, alongside its joint venture partner Jiangxi Ganfeng Lithium, to invest about A$490-million ($351.38-million) in developing the Mt Marion lithium operation in Western Australia.
The investment marks a significant step in expanding the project, which is expected to boost lithium supply amid growing global demand driven by the electric vehicle and battery storage sectors.
MinRes said the investment, to be spent between 2027 and 2028, includes A$240-million for a flotation plant, A$220-million for underground pre-production development and A$30-million for infrastructure. The upgrades would help extend mine life and lift plant recovery to 70% by accessing deeper resources.
The miner said it was tendering for an underground mining contractor, with central underground development due to begin in the first quarter of 2027, and added that Mt Marion would transition to a combined open-pit and underground operation from 2028.
Construction of the flotation circuit is targeted to begin in the first quarter of 2027, and will be operated by MinRes' Mining Services division. The commissioning and ramp-up of the plant is expected in the second half of 2028.
Last August, Reuters reported that MinRes tried to sell stakes in Mt Marion and Wodgina in 2025, but the process lost steam after prospective buyers from India and Japan baulked at the suggested price tag of more than $2-billion.
MinRes' website said the company operates Mt Marion through a 50-50 joint venture with Jiangxi Ganfeng Lithium, one of the world's largest lithium producers.
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