Mineral Resources Ltd acquires a nickel concentrator plant in Western Australia from Poseidon Nickel Ltd for $9.8m, aiming to develop it as a lithium processing hub.
Mineral Resources Ltd., an Australian diversified miner, has acquired a nickel concentrator plant in Western Australia from Poseidon Nickel Ltd. for A$15 million ($9.8 million). The deal allows Mineral Resources to develop the Lake Johnston plant, which has an annual capacity of 1.5 million tons, as a lithium processing hub, enabling the company to process its lithium ore into concentrate. This acquisition could mark the beginning of more acquisitions by lithium companies looking to convert nickel concentrators to process key battery material, as Western Australia's nickel concentrators are located near lithium mines.
March 17, 2024
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