• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Australia Market
    Australia News
    Australia Stocks
    • Australia Market
    • Australia News
    • Australia Stocks
    1. Home>
    2. Australia Investing>
    Loading...
    0

    Wesfarmers Delays Mt Holland Investment Decision to 2021

    Priscila Barrera
    Jan. 23, 2020 01:10PM PST

    After completing a definitive feasibility study, Wesfarmers and SQM have decided that further work is needed to make an investment decision.

    Wesfarmers Delays Mt Holland Investment Decision to 2021

    Diversified company Wesfarmers (ASX:WES) has delayed an investment decision on the Mt Holland lithium project to the first quarter of 2021.

    The Western Australian lithium project, which includes a mine and a concentrator at Mt Holland and a lithium hydroxide refinery in Kwinana, is being developed by Wesfarmers and SQM (NYSE:SQM).


    After completing a definitive feasibility study for the property in November, the companies have decided that further work is needed to make an investment decision — including more talks to meet customers’ product specifications.

    “Once completed, the project is expected to play an important role in the global lithium hydroxide market with a long-term outlook that remains attractive,” Wesfarmers Managing Director Rob Scott said in a statement on Thursday (January 23).

    Wesfarmers took over 50 percent of the asset in May of last year after buying lithium developer Kidman Resources for AU$776 million.

    Construction of the project was expected to start in the 2020 financial year. First production of lithium hydroxide from the refinery in Kwinana was originally anticipated in 2022, with an estimated annual production capacity of 45,000 tonnes.

    Despite news of the delay, shares of Wesfarmers continue to trade on an uptrend. The company’s share price has increased 7.43 percent year-to-date. Similarly, top lithium producer SQM has had a positive year so far, with shares up 9.62 percent since January.

    Also on Thursday, Galaxy Resources (ASX:GXY) said it will scale back output by about 60 percent at its Western Australian Mt Cattlin project in the first quarter of 2020 due to the current market conditions in the lithium space.

    “The strategic drivers are to prioritise value over volume, generate positive free cash flow, preserve resource life and to maintain balance sheet capacity for advancement of the company’s development portfolio,” reads part of its press release.

    Shares of Galaxy were trading down 4.31 percent on Thursday, but the company is still up year-to-date by 11 percent.

    Don’t forget to follow us @INN_Australia for real-time updates!

    Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

    https://www.linkedin.com/in/priscilabarrera/
    pbarrera@investingnews.com
    The Conversation (0)

    Go Deeper

    AI Powered
    Lithium periodic symbol and electric vehicle.

    7 Biggest Lithium-mining Companies in 2025

    Text saying "lithium" overlaid on stock chart with a globe in the background.

    Top 7 Global Lithium Stocks of 2025

    Priscila Barrera

    Priscila Barrera

    Managing Editor, Resource

    Priscila is originally from Buenos Aires, Argentina, where she earned a BA in Communications at Universidad de San Andres. She moved to Vancouver for the first time in 2010 and fell in love with the city. A few years after she went to London, UK, to study a MA in Journalism at Kingston University and came back in 2016. She enjoys reading, drinking coffee and travelling.

    Latest News

    Quarterly Cashflow Report - June 2025

    Quarterly Activities Report - June 2025

    Quarterly Activities Report and Appendix 5B

    Quarterly Activities/Appendix 5B Cash Flow Report

    BPH Energy Limited Quarterly Activities Report

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Australia Investing Stocks

    International Lithium Corp.

     
    ILC:CA

    Metals Australia

     
    MLS:AU

    Lithium Africa

    Atlantic Lithium

     
    A11:AU

    Galan Lithium

     
    GLN:AU

    Jindalee Lithium

     
    JLL:AU
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×
    Priscila Barrera
    Priscila Barrera

    Managing Editor, Resource

    Priscila is originally from Buenos Aires, Argentina, where she earned a BA in Communications at Universidad de San Andres. She moved to Vancouver for the first time in 2010 and fell in love with the city. A few years after she went to London, UK, to study a MA in Journalism at Kingston University and came back in 2016. She enjoys reading, drinking coffee and travelling.

    Full Bio

    Follow

    Learn about our editorial policies.