Tawana Resources says the Bald Hill Lithium Mine is well on its way to completion.Picture: Tawana Resources
Goldfields lithium developer Tawana Resources says it remains on track to commission the Bald Hill lithium mine with Singapore-listed joint venture partner Alliance Mineral Assets within two months.
Located 50km south-east of Kambalda, Bald Hill is expected to be the third lithium mine in the Goldfields-Esperance region to enter production, following Galaxy Resources’ Mt Cattlin operations near Ravensthorpe and the Mt Marion lithium mine, 40km south-west of Kalgoorlie-Boulder.
Tawana, a former iron ore explorer trading as cheaply as 2.6¢ a share 18 months ago, was yesterday worth more than $250 million, with a trading price of 52¢.
It has joined the throng of lithium companies drawing huge interest in the positive outlook for the energy metal, with higher prices for the commodity driven by growth in electric vehicle sales and demand from China.
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Once a penny stock, Pilbara Minerals, which is building the big Pilgangoora mine in WA’s North West, is now worth almost $2 billion.
Kidman Resources, which owns half of the Earl Grey lithium deposit south of Southern Cross, is worth more than $700 million in market value.
More than 200 people have been employed on the Bald Hill site in recent weeks, with Tawana managing director Mark Calderwood calling the transformation “amazing”.
The company said mining by contractors SMS Innovative Mining Solutions was ramping up to 16,000cum a day, with the mine’s power plant already partly commissioned, maintaining its aim of producing lithium concentrate before the end of March.
