Ningbo Shanshan Increases Ownership Of Australian Lithium Producer
Ningbo Shanshan will invest $15.69 million (A$22.4 million) in Altura Mining Limited (ASX:AJM) and increase its equity interest to 19.4%.
Altura owns and operates Altura lithium project located in Western Australia's Pilbara region. The mine commenced production in 2018 and has a production capacity of 220,000 tonnes per annum of quality spodumene concentrate.
The company said it has completed a definitive feasibility study on a potential stage 2 expansion and is reviewing an investment decision.