Altura Mining Completes Scoping Study for Lithium Project

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Researched by Industrial Info Resources Australia (Perth, Australia)--Altura Mining (ASX:AJM) has completed a scoping study for its Pilgangoora lithium project in Western Australia, which is located about 90 kilometres west of the remote town of Marble Bar in the Pilbara region. Economically viable results of the study will enable Altura Mining to fast-track the growth of this project, with targeted production in late 2015. Metallurgical consulting group Mineral Engineering Technical Services (METS) (Perth) conducted the scoping study and provided the results of amenable ore. The project soon will be moving to the pre-feasibility stage to confirm the detailed design for the processing plant.

The scoping study charted out the possibility of processing 830,000 tons per year of ore in order to produce 150,000 tons per year of spodumene concentrate. A metallurgical testwork program confirmed that the ore could be processed using conventional dense media separation or gravity separation. Altura Mining will not be looking into producing lithium carbonates, as it would see a substantial increase in the capital requirements, but will produce spodumene concentrate and export with off-take agreements. A scoping study has indicated a capital cost estimate of $96.3 million, which includes a processing plant, supporting mine infrastructure and a 50-man accommodation camp for the operating staff.

The global demand for lithium in 2012 is estimated to be 145,000 tonnes of lithium carbonate equivalent. The biggest growth driver of the industry is the demand from the lithium battery sector, used in laptops, mobile phones and other personal electronic devices. With more global car manufacturers launching electric vehicles, the demand for lithium is expected to grow exponentially from 2014 onward. China has remained the largest global consumer of lithium in 2012, with an estimated 55,000 tonnes of lithium carbonate equivalent.

Western Australia currently holds the largest and one of world's richest lithium minerals. The Greenbushes, Mount Cattlin and Mount Marion sites in the state have projects in production or exploration stages belonging to some of world's largest lithium producers, such as Talison Lithium (TSX:TLH) and Galaxy Resources Limited (ASX:GXY).

"We are actively advancing this project, however securing a joint venture and off-take agreements remains the priority," said Project Manager Karri Dorrington.

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