Hancock Prospecting plots new Australian lithium mine
2026-05-18 14:17:23 [Print]
Australia Hancock Prospecting, led by executive chairman Gina Rinehart, is targeting a 2028 construction start for a $1 billion lithium mine in Western Australia, signalling renewed confidence as lithium prices rebound.
The Andover project, located near Roebourne roughly 200 kilometres south-west of Port Hedland, will be developed through a joint venture between Rinehart-controlled entities and Chilean lithium major Sociedad Química y Minera.
The development blueprint was lodged with federal regulators late last week. It comes after Rinehart and SQM seized control of Andover in late 2023 via a $1.7 billion takeover of ASX-listed explorer Azure Minerals, securing a 60 per cent stake in what was then an extremely early-stage discovery.
According to filings with government regulators, the proposed open-cut operation would extract 6 million tonnes of ore annually and produce up to 1.1 million tonnes of lithium concentrate each year. Construction is slated to begin in November 2028, spanning two years, with an anticipated mine life of 30 years. Finished product would be trucked to Port Hedland for export.
The Andover project, located near Roebourne roughly 200 kilometres south-west of Port Hedland, will be developed through a joint venture between Rinehart-controlled entities and Chilean lithium major Sociedad Química y Minera.
The development blueprint was lodged with federal regulators late last week. It comes after Rinehart and SQM seized control of Andover in late 2023 via a $1.7 billion takeover of ASX-listed explorer Azure Minerals, securing a 60 per cent stake in what was then an extremely early-stage discovery.
According to filings with government regulators, the proposed open-cut operation would extract 6 million tonnes of ore annually and produce up to 1.1 million tonnes of lithium concentrate each year. Construction is slated to begin in November 2028, spanning two years, with an anticipated mine life of 30 years. Finished product would be trucked to Port Hedland for export.
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