Chile's SQM, the world’s second-largest lithium miner, said expansion plans had gone better than expected and that sales would likely beat its forecasts for this year.
The rare earths miner said its board had concluded it would not engage with retail and industrial conglomerate Wesfarmers, stating its unsolicited takeover offer undervalues Lynas' intellectual property.
The company, which in March more than doubled the size of the vanadium property, believes that Carlin’s maiden resource will provide a base for an economic study.
Lynas, one of the world’s main suppliers of rare earths outside China, said it was open to processing materials closer to its Australian mine if that meant it can renew its licence in the Southeast Asian country.
The plant is expected to produce up to 15,000 tonnes of lithium concentrate (spodumene) per year from samples taken at the PAK deposit, located in Canada's northwestern Ontario.