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Kidman managing director Martin Donohue (right) with SQM chief executive Patricio de Solminihac Tampier.

Chilean giant buys into WA lithium mine

The world's largest lithium producer will make a $A150 million investment in Kidman Resources' Mt Holland project near Southern Cross, and plans to build a new refinery in the region.

Kidman announced this morning that Chile-based lithium producer Sociedad Quimica y Mineara de Chile (SQM) would spend $US30 million in cash and $US80 million in staged payments to acquire a 50 per cent stake in Mt Holland, with the funds to be used for initial development costs including completion of feasibility studies and construction work on a processing facility.

SQM is also planning to build a separate refinery in the region, which would be used to process product from both Mt Holland and other nearby operations.

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Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
114thAruma Resources90%-23%
612thMarindi Metals-33%-19%
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31/12/16
$0 Other
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159th↑Aruma Resources$360k
160th↑Marindi Metals$357k
161st↑Cradle Resources$349k
162nd↓Capricorn Metals$344k
491 listed resources companies ranked by revenue.
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1561stJohn Hutton$29k
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