Altura Mining Limited has been provided with an additional US$15 million for the company’s 100 per cent owned Altura Lithium Project at Pilgangoora, Western Australia.
Altura’s Managing Director, James Brown, said it was pleasing to continue to receive the strong support from their project financiers.
“The additional funds will ensure the efficient ramp-up of commissioning towards nameplate capacity at the Altura Lithium Project, continued exploration of the company’s portfolio of tenements and ongoing work on the Stage 2 expansion which targets a doubling of production to 440,000 tonnes per annum in the first half of 2020,” he said.
This news follows the official opening of the Altura Lithium Project last Wednesday (5 September). The mine opened just 18 months from the start of construction, which employed 1,000 personnel and contributed to improving public roads and infrastructure in and around Port Hedland.
At the official opening, Mr Brown said it was an achievement in itself to open a mine, but to do it in less than 18 months is a testament to the drive and passion of all parties.
“With the continued support of our shareholders, we are in a strong position to benefit from the robust lithium market fundamentals that we see globally,” he said.
“Our operations team have been able to deliver encouraging results from the mine and processing plant to allow us to commence trucking our spodumene product to Port Hedland during August. The immediate focus of Altura is to load our initial spodumene cargo with the vessel due for arrival in the middle of this month.”
Altura will continue to work alongside local organisations in the future and maintain engagement with various indigenous communities to provide employment and business opportunities.
More information on this project can be found here.