The Australian miner says its project, on the Nevada-Oregon border, has overtaken Lithium America’s Thacker pass by contained lithium in mineral resource.
The miner estimates it will spend $1bn per year to bring Woodsmith into production by 2027, both a higher cost and longer timeframe than previously expected.
MP Materials, owner of the Mountain Pass mine in California, will sell output from its separation unit directly to Sumitomo Corp. for distribution in Japan.
