Talison Lithium News Release: HIGHLIGHTS
Commissioning of the Stage 1 expansion at the Greenbushes Lithium Operations has commenced ahead of schedule and the plant is already producing at design capacity
Design of the Stage 2 expansion is being revised to allow for further increases in capacity above the original design
Board approval received to order long lead items for the Stage 2 expansion
Talison included in the Solactive Global Lithium Index
Results of annual general meeting of shareholders
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Perth,
Western Australia, December 2, 2010 –
Talison Lithium Limited (“Talison”) (
TSX:TLH) announces the early commissioning of the Stage 1 expansion at the Greenbushes Lithium Operations and an update on the Stage 2 expansion.
Peter Robinson, Chairman, said “We are very pleased that commissioning of the Stage 1 expansion of production capacity at the Greenbushes Lithium Operations has commenced ahead of schedule, and that continued strong demand for Talison’s chemical-grade lithium concentrate has necessitated a revision of the design of the Stage 2 expansion”.
Expansion of the Greenbushes Lithium Operations
Commissioning of the Stage 1 expansion of the
chemical-grade plant at the Greenbushes Lithium Operations has
commenced ahead of schedule, and production is already at the increased design capacity (an increase of approximately 7,500 tonnes of
lithium carbonate equivalent).
Talison is also continuing to plan the Stage 2 expansion of the chemical-grade plant and in response to continued strong demand for lithium concentrate, the original design of the expansion (that planned to increase total production capacity of the Greenbushes Lithium Operations to approximately 62,000 tonnes of lithium carbonate equivalent), is being revised to allow for further increases in production capacity.
To ensure that revision of the design allows Talison to proceed with the Stage 2 expansion in calendar 2011 as originally planned, Board approval has been received to commence ordering long lead time items for the expansion.
Solactive Global Lithium Index
Following its listing on the TSX in September, Talison has recently been included in the Solactive Global Lithium Index. This Index is used by
Global X Lithium, the world’s first lithium based Exchange Traded Fund, to track performance of the largest and most liquid lithium mining, refining and battery producing companies in the world.
Annual general meeting of shareholders
Talison is pleased to advise its annual general meeting of shareholders was held today with all the resolutions put to the meeting passed on a show of hands. Talison received the following proxy votes in relation to the resolutions:-
Re-appointment of KPMG as the Auditor of the Company
50,102,490
12,454
Re-election of Mr. Peter Oliver as a Director of the Company
50,119,197
3,558
Re-election of Mr. Peter Robinson as a Director of the Company
50,102,490
12,454
Re-election of Mr. Ronnie Beevor as a Director of the Company
50,111,386
3,558
Re-election of Mr. Mason Hills as a Director of the Company
50,102,490
12,454
Re-election of Mr. Mark Smith as a Director of the Company
50,111,386
3,558
Re-election of Mr. David Shaw as a Director of the Company
50,102,490
12,454
Re-election of Mr. Frank Wheatley as a Director of the Company
50,102,490
12,454
About Talison
Talison is the
leading global producer of lithium. Talison mines and processes the lithium bearing mineral spodumene at the Greenbushes Lithium Operations in Western Australia. In addition, Talison explores for lithium at the Salares 7 lithium project made up of seven salars located in Chile. Talison also has an extensive, well established global customer network and a
leading position in the growing Chinese market.
For further information please contact:
Todd Hilditch
Investor Relations Director
Phone: 604 443 3831
Email: Todd.Hilditch@talisonlithium.com
Talison Lithium Limited
Level 4, 37
St Georges Terrace
Perth, Western Australia 6000
Web site: www.talisonlithium.com
____________________________________________________________________________
Cautionary Note Regarding Forward-Looking Statements
This release contains “forward-looking statements” which reflect the current expectations of Talison. When used in this release the words “will”, “anticipate”, “intend”, “believe” and similar expressions are intended to identify forward-looking statements. These statements reflect Talison’s management’s current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant
known and unknown risks, uncertainties, factors and assumptions. Accordingly, readers should not place undue reliance on forward-looking statements. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this release.
The forward-looking statements contained in this release are expressly qualified in their entirety by this cautionary statement. Although the forward-looking statements contained in this release are based upon what Talison believes to be reasonable assumptions, Talison cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and Talison does not assume any obligation to update or revise them to reflect new events or circumstances.
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