Altura raises $26m for Pilgangoora Stage 2

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.”