- average spodumene concentrate 6% (SC6) equivalent FOB reference price to be applied to Wodgina and Mt Marion shipments of spodumene to be converted to higher value products is US$4,187/dmt for shipments from 1 July 2022 to 31 December 2022.
- Mt Marion shipped 56k dmt (51% share) of spodumene concentrate over the quarter. The average realised spodumene concentrate price at Mt Marion was US$2,364/dmt, which includes grade adjustments and product discounts.
- The Wodgina ramp-up continued with first spodumene concentrate produced from Train 2 in July. Wodgina shipped 26k dmt (40% share) of SC6 over the quarter. Wodgina spodumene concentrate earnings will be recognised once converted to lithium hydroxide and sold.
- MinRes’ 51% offtake share of Mt Marion spodumene concentrate for the quarter was converted into 3,772 tonnes of lithium hydroxide in China and sold under the tolling agreement with Jiangxi Ganfeng Lithium Co. Ltd, at an average realised lithium hydroxide price of US$79,288/t (inclusive of China VAT).
- A total of 931 tonnes of lithium hydroxide was converted by Albemarle from Wodgina spodumene (MinRes 40% share) during the quarter, which is expected to be sold in Q2 FY23.
- MinRes continued to evaluate various strategic options to maximise value creation for shareholders, including in relation to its lithium business.
- MinRes expects to commence the next phase of drilling in the onshore Perth Basin in December 2022 following regulatory approval for the North Erregulla 1, Lockyer 2 and Lockyer 3 wells.
