Lithium Australia granted new exploration licences

Company News

by David Chau

Lithium Australia Ltd (ASX:LIT) says it has has been granted three exploration licences around the the town of Greenbushes in Westeran Australia, which will double the area it controls.

The company says Greenbushes hosts the world’s largest lithium mine, and currently produces 40% of the global lithium supply.  Lithium Australia holds an 80% equity in the Greenbushes project.

The company says the initial phases of exploration have already started, and will employ non-invasive technologies.

Lithium Australia reported a net loss of $1.76 million at 31 December 2015.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.