(Yicai Global) Feb. 8 -- Mt Marion Lithium Project, an Australian lithium mine joint venture in which Jiangxi Ganfeng Lithium Co. [SHE:002460] holds a stake, has started production and shipped its first batch of lithium ore to China yesterday.
The Mt Marion Lithium Project owned by Reed Industrial Minerals Pty Ltd, in which Jiangxi Ganfeng invested, has begun production, said the Chinese partner in a statement yesterday. The first shipment of spodumene concentrates produced at the mine in Western Australia has been loaded onto the MV Pacific Venus at the Port of Kwinana, Australia, and has departed for its journey to the Port of Zhenjiang, in East China's Jiangsu province where the product will be delivered to Jiangxi Ganfeng.
The shipment marks successful beginning of the production at the mine. Mt Marionis Project is set to produce 400,000 tons of spodumene concentrates per annum at full capacity, the company said. However, it will take some time before the project works at full capacity.
Jiangxi Ganfeng, the world's biggest lithium producer, holds a 25 percent stake in Reed Industrial Minerals. As hybrid and electric vehicle technologies develop and are increasingly adopted by consumers, demand for lithium soars on a global scale.