The billionaire entrepreneur behind two of the hottest battery mineral projects in the world says the Albanese government must act if it wants Australia to make the move from mining all the way to manufacturing.
Liontown Resources chairman Tim Goyder says the Albanese government needs to “reach for the stars” in lithium and other battery minerals as US suitor Albemarle Corporation weighs its next move after having a $5.5 billion takeover bid rejected.
The events of Tuesday pushed the value of his 15 per cent stake in Liontown to $844 million and his 11 per cent stake in Chalice, which also revealed a 50 per cent jump in the size of its Gonneville deposit to 3 million tonnes of nickel equivalent, to $226 million.Mr Goyder would not discuss the specifics of the Albemarle bid for Liontown or what the board thought was a fair price for its lithium assets in WA, but did reflect on the company’s journey from four employees less than two years ago.
Liontown’s Kathleen Valley lithium project is about 60 kilometres north of Leinster in WA’s remote northern Goldfields, and parts of Chalice’s growing Julimar Project are on farmland within 70 kilometres of Perth.Liontown’s success started out in the exploration phase with a tight and capable exploration team.
In a submission to the government and Treasury officials ahead of the federal budget, MinRes said the IRA had incentivised US companies to buy up Australian lithium and other battery minerals mines while investing in downstream processing elsewhere.Mr Goyder said he had spent several days in Washington recently and was well aware of the implications of the IRA and what it would mean for Australia’s downstream processing and battery making ambitions unless matched by similar incentives here.
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