
Mineral Resources to develop lithium processing hub
Mineral Resources (ASX: MIN) will acquire the Lake Johnston nickel concentrator plant and tenure and turn it into a lithium processing hub. Owned by Poseidon Nickel (ASX: POS), Lake Johnston lies 185km southwest of Kalgoorlie in WA, covers an area of 86km2 and comprises of one exploration licence and 10 mining leases. To acquire Lake Johnston, Mineral Resources will pay $1m upon execution of a binding heads of agreement with Poseidon, $6.5m on completion of the sale and purchase agreement and $7.4m 12 months post completion. Lake Johnston has front—end capacity of 1.5mtpa and is capable of being converted to treat lithium ores, including dense media separation fines. The asset is licenced to operate to 2041 and has an active…









