Talison Lithium Announces Official Opening of Greenbushes Lithium Operations Plant Expansion
PERTH, WESTERN AUSTRALIA -- (Marketwire) -- 08/10/12 -- Editors Note: There are 2 photos associated with this press release.
Talison Lithium Limited ("Talison" or the "Company") (TSX: TLH) is pleased to announce the official opening of the Greenbushes Lithium Operations plant expansion, located in Western Australia.
Over 150 international and local guests and dignitaries including customers, shareholders and local community members attended the official opening ceremony at the Greenbushes Lithium Operations. Guests were addressed by Peter Robinson, Chairman and Pat Scallon, General Manager Greenbushes before undertaking a tour of the mine and processing plants. The expansion was officially opened by the Honourable Terry Redman MLA, West Australian Minster for Agriculture and Food, Forestry, Housing and Member for Blackwood-Stirling.
Enabling growth into the future
Peter Robinson, addressing the attendees said, "Talison was, and remains of the view that lithium will be a major part of the world's new energy future, not just for mobile electronics such as iPads, but electric vehicles, grid stabilisation batteries, and solar storage. The expansion demonstrates Talison's commitment to this belief and provides these new industries with confidence that lithium will be available to support the new energy future."
The Expansion was completed and commissioned in June 2012, doubling Talison's production capabilities to around 100,000 tonnes lithium carbonate equivalent per annum. This equates to nearly two-thirds of current global demand. The Expansion was deliberately designed to be large scale to both provide operational efficiencies and enable Talison to support the needs of the lithium market into the future.
Talison expects to progressively increase capacity utilisation of its expanded chemical-grade concentrate processing plant as the lithium market grows. However, the Expansion also provides Talison with the capacity to respond rapidly to changing conditions in the lithium market.
Peter Robinson continued, "Looking forward to the future, this new expansion will also provide high-quality feedstock for our own plant to produce lithium carbonate for customers in countries including Japan, Korea and Europe. This is the next exciting phase of growth for Talison."
ABOUT TALISON
Talison is a leading global producer of lithium and has been supplying a global customer network from the Greenbushes Lithium Operations in Western Australia for over 25 years. In anticipation of sustained growth in lithium consumption, driven primarily by the secondary lithium battery market, Talison has doubled its production capacity at the Greenbushes Lithium Operations and is advancing several growth projects including a lithium carbonate plant in Western Australia.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release, including any information as to Talison's mineral reserve and mineral resource estimates, strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, may constitute "forward-looking information" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, constitute forward-looking information. Forward-looking information can often, but not always, be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words, or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. The purpose of forward-looking information is to provide the reader with information about management's expectations and plans. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.
Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Talison, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such factors, estimates and assumptions include, but are not limited to: anticipated financial and operating performance of Talison, its subsidiaries and their respective projects; Talison's market position; future prices of lithium or lithium concentrates; estimation of mineral reserves and mineral resources; realization of mineral reserve and mineral resource estimates; timing, amount and costs of estimated future production; grade, quality and content of concentrate produced; sale of production; capital, operating and exploration expenditures; costs and timing of the expansion of the Greenbushes Lithium Operations; exploration and development of the Salares 7 lithium project; costs and timing of future exploration; requirements for additional capital; government regulation of exploration, development and mining operations; environmental risks; reclamation and rehabilitation expenses; title disputes or claims; absence of significant risks relating to Talison's mining operations; the costs of Talison's hedging policy; sales risks related to China; currency; interest rates, and limitations of insurance coverage. While Talison considers these factors, estimates and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Talison and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risk factors include, amount others, those described in the unaudited condensed consolidated interim financial statements of Talison and the related notes thereto as at March 31, 2012 and for the nine months ended March 31, 2012 and under the heading "Risk Factors" in the annual information form of Talison for the year ended June 30, 2011 dated September 23, 2011, each of which can be found on Talison's SEDAR profile at www.sedar.com. While Talison considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
Although Talison has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this press release based on the opinions and estimates of management on the date statements containing such forward-looking information are made. Except as required by law, Talison disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
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Contacts:
Talison Lithium Ltd
Nicole Smith
+1 (647) 343-1992
investorrelations@talisonlithium.com