Liontown shores up A$550m for Kathleen Valley
Lithium company Liontown Resources has secured a A$550-million debt facility agreement, positioning the Kathleen Valley lithium project for a seamless journey through to first production and subsequent ramp-up to the three-million-tonne-a-year base case.
The debt facility would enable Kathleen Valley mine, in Western Australia, to achieve first production by mid-year, the ASX-listed junior said on Wednesday.
Liontown found itself in a precarious position when an anticipated takeover by US miner Albemarle collapsed in October.
The company took a further hit in January when projected prices for spodumene led to the termination of a A$760-million agreement, prompting a re-evaluation of the project.
“Having this funding in place provides strong endorsement for our project and a platform of financial certainty from which to move forward,” commented MD and CEO Tony Ottaviano.
The new debt facility not only ensures financial stability, but also allows for time to complete the review of Kathleen Valley’s proposed four-million-tonne-a-year expansion.
The proceeds drawn from the facility will be used to refinance Liontown’s existing Ford debt, fund construction and ramp-up at Kathleen Valley and provide working capital and liquidity.
The syndicate of lenders comprises Commonwealth Bank of Australia, National Australia Bank Limited, Societe Generale, Export Finance Australia and the Clean Energy Finance Corporation.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
