MinRes confirms Mt Marion price drop

LIKE other lithium producers, Mineral Resources and Ganfeng Lithium are seeing lower prices for 6% spodumene concentrate.
MinRes confirms Mt Marion price drop MinRes confirms Mt Marion price drop MinRes confirms Mt Marion price drop MinRes confirms Mt Marion price drop MinRes confirms Mt Marion price drop

Mt Marion, in WA's Goldfields region

MinRes said the sale price for 6% spodumene concentrate shipments for the current quarter would be US$608.95 per dry metric tonne compared with US$682.38/dmt for the June quarter.

MinRes said Mt Marion, a 50:50 joint venture with Ganfeng, remained a "profitable and highly valuable long-life lithium asset".

The company said last week Mt Marion shipped 81,000 wet metric tonnes of concentrate, 69% of which was 6% and the remainder 4%, during the June quarter.

MinRes did not report cash operating costs.

The price for 6% spodumene concentrate has been gradually falling.

MinRes was receiving $1070.85/dmt in the September quarter of last year, $930.80/dmt in the December 2018 quarter and $791.84/dmt in the March 2019 quarter.

The lower September quarter figure is in line with Pilbara Minerals' commentary last week of a current price of $580-640/t. Pilbara's average price during the June quarter was $644/t.

MinRes shares dropped 1.4% to A$16.41 in early trade.