Latin Assets had set out plans to begin manufacturing at Salinas, within the southeastern state of Minas Gerais, in 2026.
Henderson stated for the second, these plans weren’t being adjusted, with Pilbara nonetheless targeted on ending the acquisition.
“May there be modifications? It’s potential, however proper now that’s not the main target,” he advised a press convention at a mining trade convention.
He added that the corporate took decrease lithium costs under consideration, however noticed different essential elements within the Latin Assets acquisition.
“The standard of the Salinas venture that Latin Assets has developed may be very top quality and we predict it will likely be a really low price operation as soon as totally developed,” he stated.
“Inevitable value cycles, it will likely be capable of navigate these, we predict with ease.”
Henderson stated he expects costs for spodumene focus, a kind of lithium from exhausting rock, to greater than double within the long-term to about $1,500 per metric ton from about $700 at the moment.
Requested if the corporate would contemplate extra acquisitions in Brazil, Henderson stated Pilbara is targeted on the present deal, however didn’t rule out future transactions.
“We predict in time there can be alternative (for acquisitions),” he stated.
Salinas has the potential to turn into one of many 10 largest exhausting rock lithium tasks on the earth when it comes to manufacturing, in keeping with Henderson.
“A part of the attraction to return to Brazil and the area is … as a result of we predict it’s the beginning of what may very well be a implausible and doubtlessly main area in lithium,” Henderson stated.
($1 = 1.5011 Australian {dollars})
(By Marta Nogueira, Andre Romani and Daina Beth Solomon; Modifying by Marguerita Choy)