Greenbushes chemical plant capex jumps to A$880m
Australian lithium company IGO on Thursday announced a revised budget and timeline for the Chemical Grade Plant 3 (CGP3) project under construction at the Greenbushes lithium mine.
The total cost of the CGP3 had risen to A$880-million, with the remaining cost to complete estimated at A$270-million.
First ore from the plant was expected in the second quarter of the 2026 financial year.
Under previous estimates, the CGP3 project was due to be completed in early 2025 at a cost of A$500-million to A$550-million.
IGO attributed the budget and schedule adjustments to the impact of industry cost escalations, changes to scope and design and delays in completion of some work packages.
“CGP3 forms an important part of Greenbushes’ near-term growth strategy, and will add approximately 500 000 t/y of additional spodumene concentrate production capacity once complete,” said IGO MD and CEO Ivan Vella.
“While market conditions for lithium are currently subdued, the strong margins and cash generation being achieved by Greenbushes is enabling reinvestment in growth which will further cement its position as the world’s leading hard rock lithium operation,” he added.
Greenbushes is Australia’s biggest lithium mine. It is operated in a joint venture between IGO and China’s Tianqui Lithium.
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