Alliance Mineral, Tawana Resources start lithium production at Australia mine
LITHIUM production at the Bald Hill Lithium and Tantalum Mine in the Eastern Goldfields region of Western Australia - which is owned through a 50:50 joint venture between Alliance Mineral Assets and Tawana Resources - has commenced, the mining companies said in a joint statement on Wednesday.
The spodumene (lithium) production commenced following the commissioning of a newly constructed dense media separation circuit, which will be ramped up to full production run rate over several months, Alliance Mineral said.
Alliance Mineral and Tawana are still working on the completion of stage 2 of the lithium fines circuit design and the recommissioning of the tantalum circuits.
On Tuesday, Alliance Mineral announced it has terminated the services of its CEO Tjandra Adi Pramoko and his wife Simone Suen Sze Man, who serves as executive director of the company, saying it has "lost confidence" in the abilities of both persons in continuing their duties, and has given notices of termination to both Mr Tjandra and Ms Suen.
Mr Tjandra has ceased to act as its CEO, and Ms Suen has ceased to act as its executive director, with effect from March 1.
The pair are on gardening leave.
On March 1, Alliance Mineral asked for a trading halt on its shares; subsequently on March 6, it requested a trading suspension, pending this announcement. It requested on Tuesday that its shares be allowed to resume trading.
Alliance Mineral shares last traded at S$0.36.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results