Al­tura raises $26m for Pil­gan­goora Stage 2

The Australian Mining Review - - NEWS -

AL­TURA Min­ing has raised a fur­ther $26 mil­lion to de­velop a fea­si­bil­ity study for a Stage 2 ex­pan­sion of its Pil­gan­goora lithium project. Stage 2 would up­grade the pro­cess­ing plant to 4 mil­lion tonnes per an­num with an ex­pected an­nual out­put of 450,000 tonnes of spo­dumene con­cen­trate.

“We re­ceived a strong level of in­ter­est from in­ter­na­tional in­vestors in how ad­vanced the Al­tura lithium project al­ready is and how the project could be ex­panded to meet grow­ing global de­mand for lithium,” Al­tura man­ag­ing di­rec­tor James Brown said.

“Con­struc­tion of the project is al­ready more than 50 per cent com­plete and is fully funded fol­low­ing the re­cent fi­nal­i­sa­tion of the $US110m se­nior se­cured debt fa­cil­ity.”

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