Name of the Project
Manna lithium project.

Location
Goldfields region of Western Australia.

Project Owner/s
Diversified lithium exploration and development company Global Lithium Resources (GL1).

Project Description
A scoping study has confirmed the potential for a globally competitive lithium project.

The scoping study envisages an operation with a life-of-mine of ten years, with an estimated total production of 2.2-million tonnes of spodumene concentrate, based on mineral resources of 32.7-million tonnes at 1% lithium.

The concentrator will have a nameplate capacity of two-million tonnes a year of run-of-mine ore.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at an 8% discount rate, of A$2.8-billion and an internal rate of return of 103%, with a payback of 15 months after first production.

Capital Expenditure
Direct capital costs are estimated at A$299.4-million.

Planned Start/End Date
First spodumene concentrate targeted for production in 2026.

Latest Developments
Global Lithium Resources (GL1) shareholders have approved a new board that wants to go ahead with developing the project.

Former executive chairperson Ron Mitchell had turned to regulators to try to stop what he alleged was an undisclosed association among China-linked shareholders unlawfully seeking to take control of the company and the Manna lithium project. He  alleged that shareholders might have violated Australia's takeover laws and the foreign takeovers act in reports to Australia's Treasury in 2024, as well as in filings to the Australian Securities Exchange, the Western Australian Supreme Court and Australia's Takeovers Panel.

Management froze development of the project in late 2024 amid a protracted downturn in the battery raw material market, but some of Global Lithium's biggest shareholders opposed the company's strategy.

Following the board’s overhaul, the company has said it will prioritise finalising a native title mining agreement with the Kakarra Part B Native title group, ahead of seeking a mining lease and completing a financial feasibility study on the project.

Global Lithium is also seeking a new chairperson as it looks to "rebuild trust" with potential project partners. 

The Takeovers Panel twice declined to review the allegations, but Australia's Treasurer was still keeping a close eye on the situation, newspaper The Australian reported.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Global Lithium Resources, email info@globallithium.com.au