MinRes flags Wodgina delay
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Mineral Resources has suffered a minor delay in the construction of its $610 million lithium concentrate processing plant at the Wodgina project in the Pilbara.
The company is planning a three-train processing facility at Wodgina, with a capacity of 750,000 dry metric tonnes of 6 per cent spodumene concentrate per annum.
Chris Ellison-led MinRes said today there would be an eight-week delay in the construction due to late delivery of long lead items and congestion in Perth fabrication and rubber lining facilities.
The company began construction of the facility in March, with commissioning of the final train forecast for completion in the fourth quarter of the 2019 financial year.
MinRes is also planning a rail project, which includes a 320-kilometre rail system, a fully automated stockyard and development for one cape size carrier berth at South West Creek at Port Hedland.
The rail system is designed to transport iron ore and other bulk commodities from MinRes's mining operations to Port Hedland, where the company is also aiming to build a new stockyard and berth at South West Creek.
In addition to the lithium concentrate plant and the light rail system, MinRes is set to build two 28,000-tonne lithium hydroxide processing modules at Wodgina, after announcing plans to sell a minority stake in the project.
Shares in MinRes finished down 5.82 per cent at $14.09 each today.