ASX Price $15.48 0.35

Joint Ventures

Mt Marion Lithium Project

The Mt Marion lithium project is located approximately 40km south west of Kalgoorlie, Western Australia and is jointly owned by Mineral Resources Limited (50%), and one of China’s largest lithium producers, Jiangxi Ganfeng Lithium Co., Ltd (50%).

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Marillana Iron Ore Project

In July 2018, Mineral Resources entered into a Farm-In and Joint-Venture agreement (JV) with Brockman Mining Limited. We have the potential to earn a 50% interest in the Pilbara-based Marillana iron ore project. The Marillana Project is located in the Hamersley Iron Province within the Pilbara region, approximately 100km north-west of the township of Newman.

To acquire the 50% interest in Marillana, must meet certain conditions in relation to spend on exploration and development activities on the Marillana tenements and complete the process design criteria of the processing plants, optimise the mine plan study and finalise the mine development layout plan. In July 2019, both companies agreed that the Farm-in obligation may take up to a further 12 months to complete than originally anticipated and agreed to extend the dates.

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MARBL Joint Venture

On 1 November 2019, Mineral Resources completed the transaction with Albemarle for the partial sale of the Wodgina Lithium Project and established the MARBL joint venture, with Mineral Resources holding a 40% interest and Albemarle holding a 60% interest. As part of the transaction, Mineral Resources received a 40% interest in two 25ktpa lithium hydroxide modules in Kemerton, Western Australia, which are currently under construction.

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