Liontown Resources (ASX:LTR) has secured a long-term Port Services and Access Agreement with the Mid West Port Authority (MWPA).
The agreement has received ministerial approval and is for an initial 10 years and will facilitate the export of lithium from the Liontown’s Kathleen Valley Project in Western Australia.
The agreement holds extension options for a further 10 years and 3 years, respectively, aligned to the expected mine life of Kathleen Valley.
Liontown Resources Managing Director and Chief Executive Officer (CEO) Tony Ottaviano says the ministerial approval represents the final step in securing the company’s supply chain to export lithium ore from Kathleen Valley.
“The Port of Geraldton is a world-class facility with future growth aspirations, and Liontown is pleased to support the diversification of critical minerals exports out of the port for at least the next 20 years.”
Liontown, which has a $3.36 billion market capitalisation, reports lithium from the project will be shipped from the Port of Geraldton to its global tier-one offtake partners LG Energy Solution, (KRX:373220), Tesla (NASDAQ:TSLA), and Ford Motor Company (NYSE:F).
Meanwhile, Liontown is partnering with Qube Holdings to provide road transportation and port-side storage management services to enable the controlled transfer of product directly into MWPA’s automated ship-loading infrastructure.
Liontown Resources is focused on becoming a ‘significant’ provider of battery minerals for the rapidly growing clean energy market. The company controls 2 ‘major’ lithium deposits in Western Australia and aims to expand its portfolio through exploration, partnerships, and acquisitions.
As of 30 September 2023, Liontown Resources had $285 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
