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To: LoneClone who wrote (148293)	12/11/2020 1:28:59 PM
From: LoneClone	Read Replies (1) \| Respond to of 196221

Lithium: IGO locks-in major stake of a world-class lithium asset roskill.com Posted 10th December 2020 in ?Industry news. By Oliver Heathman On 8 December 2020, IGO announced it had reached an agreement to acquire a 24.99% stake in the Greenbushes mine and a 49% share of the Kwinana lithium hydroxide plant from Tianqi Lithium for US$1.4Bn (A$1.9Bn). The deal will be funded through a combination of debt, IGO’s existing cash position (which totalled US$366M at end-September 2020) and an equity raising, with completion targeted for Q2 2021. Roskill ViewThis provides IGO with a share in one of the world’s lowest-cost hard-rock lithium mines and, once commissioned, one of the few lithium hydroxide production facilities outside of China coupled with an experienced partner in Tianqi. On the other side, this deal provides Tianqi with much needed funds for debt repayment and to finance the remaining investment in the Kwinana lithium hydroxide plant. Before signing an extension in November, Tianqi had US$1.9Bn of loans that were due for repayment at the end of November 2020. These were linked to the acquisition of a 23.8% stake in SQM (and its major lithium brine operation in Chile) in 2018. World: Current distribution of global lithium hydroxide production Greenbushes is located in Western Australia and is currently the largest hard-rock lithium mine in the world. Since May 2014, the mine has been owned by Talison Lithium in a joint venture between Tianqi Lithium (51%) and Albemarle (49%). It has produced spodumene concentrate predominantly for export to China-based mineral conversion plants or consumers of technical-grade spodumene concentrates in Europe, North America and China. Given the high-grade nature of the deposit, its economics are notably more favourable than those of most other existing Australian spodumene mines and projects globally (as shown by the cost curve below). Furthermore, once the mine is coupled with the domestic refining facilities close by in Kwinana and Kemerton (which are being developed by Albemarle), Roskill’s sustainability analysis shows the mine will have one of the lowest CO2 footprints of its hard-rock peers. Roskill’s NEW Lithium Sustainability Monitor is designed to provide clients with an in-depth understanding of lithium supply chain sustainability and its crucial role in the transition to a low-carbon economy. For more information, click here. Roskill’s Lithium Cost Model Service is designed to provide miners, financial institutions, governments, and other industry stakeholders with an in-depth understanding of the costs involved throughout the lithium supply chain; for more information, click here. Roskill’s Lithium: Outlook to 2030, 17th Edition report was published in August 2020 and includes full analysis of the impact of COVID-19 on supply, demand and prices, as well as profiles of the main producers. Click here to download the brochure and sample pages for the report, or to access further information. Contact the author This article was written by Oliver Heathman. Please get in touch below if you wish to discuss further: Contact the author