Altura shipments exceed output amid challenges
Friday, September 25th, 2020
Altura Mining has ramped up operations at the Altura lithium project in Western Australia as workers returned to pre-COVID-19 rosters.
Altura reported that production had been consistent and was expected to reach 43,000 to 45,000 wet metric tonnes for the September quarter, in line with previous quarters.
The company’s shipment has also exceeded production, with 51,217 wet metric tonnes sold via four cargoes.
Altura managing director James Brown said the company’s ability to continue to operate at full capacity through this challenging time differentiated itself from its peers.
“Altura has established a proven reputation as a low-cost, stable supplier of high-quality, spodumene concentrate,” he said.
“Altura’s production and sales have continued to be strong through what are still weak market conditions.”
The company is in the process of restructuring its debts to achieve reduced financing costs and improve business sustainability, according to Brown.
Altura has also secured an offtake agreement with Hunan Yongshan Lithium for at least 25 per cent of its product under the project’s stage one development between 2020 and 2025, and is seeking shareholders’ approval in a general meeting today (Friday September 25).https://www.australianmining.com.au/news/altura-shipments-exceed-output-amid-challenges/