Altura secures additional US$15 million for Lithium project

Company News

by Anna Napoli

Last Movement
$0.095 -$0.004 -3.65%
Data Source:
Last Updated: 19/06/2019 3:25 PM

Altura Mining (ASX:AJM) has secured an additional $15 million for the Altura Lithium Project.

The agreement for additional funds was made with Altura's existing Loan Note Holders .

The funds will be used to ramp up towards nameplate capacity and distribution of lithium concentrate to offtake partners.

Managing Director, James Brown says it's pleasing to receive the strong support of project financiers.

The company is hoping to double production to 440 000 tonnes per annum in the first half of 2020.

Shares in Altura Mining (ASX:AJM) are trading are trading flat at 24 cents.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.