Latin Resources unveils US$308mn capex plan for Brazil lithium project
Australia's Latin Resources unveiled a capex plan worth US$308mn for its Salinas lithium project in Brazil’s Minas Gerais state.
Of the total, US$253mn is for phase 1 and US$55mn is for phase 2, the company said in the preliminary economic assessment.
Phase 1 production is expected to start in 2026 and phase 2 output as of 2029.
The capex of phase 1 is expected to be funded by a combination of debt and equity as the company will continue to explore funding options, while phase 2 is expected to be funded from cash flows generated from phase 1.
Salinas is one of several lithium projects being developed by mining firms in Minas Gerais.
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