Australia about to become the world's Lithium capital?
 

Two massive increases in reserves and resources by two of Australia's Lithium plays with one Galaxy ASX: GXY (see the previous post) already in production could see Australia become the world's largest Lithium player...

The title at the moment rests with South America but Australia is fast catching up... and we have the sought after hard rock lithium that is China's preferred form of Lithium and links into China with very low cost refining ....

Today's news that Reed Resources ASX: RDR increased its resource base by 220% is quite startling and the grades of 1.4% appear to be world class.

The total contained lithium oxide resource increase by 220%, to 128,000 tonnes (Li2O) with total resources of 8.9 Mt @ 1.4% Li2O.

The planned production rate, subject to a decision to mine, is 200,000 per annum of +6.5% Li2O concentrate, which contains 13,000 tonnes lithium oxide (Li2O).

This upgraded resource is the first at the project since the previous resource/reserve estimate was compiled in 1996 and reported in compliance with the JORC Code 1989.


Australia the lucky energy country!