Billionaire MinRes boss charts new course for lithium
Mineral Resources is in talks with car makers about joining forces in lithium after ditching battery chemicals giant Albemarle as a partner in processing as it tries to divert its mineral output away from China.
Billionaire MinRes boss Chris Ellison is also confident he can convince the West Australian government to lift a controversial ban on LNG exports from onshore gas projects after telling politicians his company stands ready to invest billions in the Perth Basin.
Chris Ellison launched a broadside at China last month after pulling out of a billion-dollar deal on lithium processing there in partnership with Albemarle.
Mr Ellison admitted on Tuesday that the company was making up its lithium strategy as it went along, but now wanted to sell directly to car makers, rather than battery manufacturers and chemicals producers.
He said MinRes was “talking to the heads of a range of different vehicle manufacturers”.
“They are very keen to get something bedded down. We are taking our time because there is no rush.”
Mr Ellison said “credible and well-funded” entities were offering MinRes free carry into lithium hydroxide plants planned for Germany and the United Kingdom, where lithium spodumene is refined into high-grade product.
The latest iteration of the MinRes strategy is to produce a saleable lithium product through a plant in South-East Asia or Australia, to have that converted to hydroxide elsewhere, and then sell to the automotive industry.
MinRes is lobbying for government support to build a plant producing a lithium phosphate or sulphate material in WA after previously being one of the loudest voices seeking backing for onshore lithium hydroxide plants and a domestic battery-making industry.
The MinRes share price
Read more on afr.com
