Ganfeng Lithium and MinRes have reached a final investment decision on the construction and underground mining of the Mt Marion lithium mine.

Australian mining company Mineral Resources announced on May 26 that it has made a final investment decision with its joint venture partner, Ganfeng Lithium, to build a flotation plant and develop underground mining at the Mt Marion lithium project. The total capital investment for the project, based on 100% equity, is estimated to be $490 million, with funds to be allocated in the 2027 and 2028 financial years. This includes $240 million for the flotation plant, $220 million for early underground production development, and $30 million for non-processing infrastructure. Based on the current spot price of lithium concentrate SC6 at around $2,700 per ton, the project's payback period is expected to be less than one year.