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government supports Liontown equity raise, alongside Chinese funders","australian-government-supports-liontown-equity-raise-alongside-chinese-funders","article/australian-government-supports-liontown-equity-raise-alongside-chinese-funders",{"_uid":557,"date":558,"tags":559,"editor":575,"content":585,"excerpt":723,"featured":51,"reporter":724,"_editable":728,"component":729,"seo_title":553,"categories":730,"visibility":736,"author_company":49,"data_vis_image":737,"featured_image":742,"seo_description":723,"author_full_name":49,"author_job_title":49,"formattedDate":746,"formattedArticleDate":747},"f3995765-8fa1-49b3-a7ca-ba39a7bdd57a","2025-08-08 00:00",[560,563,566,569,572],{"slug":561,"name":562},"australia","Australia",{"slug":564,"name":565},"data-visualisation","Data Visualisation",{"slug":567,"name":568},"liontown","Liontown",{"slug":570,"name":571},"lithium-prices","Lithium prices",{"slug":573,"name":574},"spodumene","Spodumene",[576],{"slug":577,"name":578,"content":579},"matthew-bird","Matthew Bird",{"job_title":580,"image":581,"bio":583,"linkedin":584},"Senior Editor - Supply Chains & Data Visualisation",{"filename":582},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":586,"content":587},"doc",[588,595,610,615,627,634,639,652,657,662,670,675,688,701,706],{"type":589,"attrs":590,"content":591},"paragraph",{"textAlign":49},[592],{"text":593,"type":594},"Australian lithium miner Liontown Resources has raised AUD316 million (US$206 mn) in equity. This includes investments from the Australian government and major Chinese lithium chemical producer Canmax.","text",{"type":589,"attrs":596,"content":597},{"textAlign":49},[598,600,608],{"text":599,"type":594},"The funds will support the ramp up of Liontown’s Kathleen Valley spodumene mine which ",{"text":601,"type":594,"marks":602},"began operations last year",[603],{"type":604,"attrs":605},"link",{"href":606,"uuid":49,"anchor":49,"target":49,"linktype":607},"https://source.benchmarkminerals.com/article/liontowns-kathleen-valley-produces-first-spodumene-concentrate-amid-uncertain-market-conditions","url",{"text":609,"type":594},".",{"type":589,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":594},"This comes following a recovery in spodumene prices, which traded  below $700/tonne between 23 May and 23 July this year. At $700/t, Benchmark analysis suggests that ~30% of hard rock producers, including Kathleen Valley, are loss making.",{"type":616,"attrs":617},"blok",{"id":618,"body":619},"4cb06350-2142-4a6c-a0dc-b666c2f52769",[620],{"id":621,"_uid":622,"type":623,"_editable":624,"component":625,"fixed_height":626,"use_fixed_height":50,"fixed_height_mobile":626,"fixed_height_tablet":626},"24601657","i-b0a4931d-14bb-4448-be96-2291f40290d0","visualisation","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-b0a4931d-14bb-4448-be96-2291f40290d0\", \"id\": \"\"}-->","ContentFlourish","",{"type":628,"attrs":629,"content":631},"heading",{"level":630,"textAlign":49},4,[632],{"text":633,"type":594},"What is the significance of the funding sources?",{"type":589,"attrs":635,"content":636},{"textAlign":49},[637],{"text":638,"type":594},"Through the National Reconstruction Fund Corporation, the Australian government is backing Liontown with AUD50 mn (US$32.6 m) of investment. This highlights that the government is taking critical minerals seriously and is backing this up through significant investment.",{"type":589,"attrs":640,"content":641},{"textAlign":49},[642,644,650],{"text":643,"type":594},"Government investment into critical mineral projects is key for the development of supply chains in the West as it improves the bankability of assets for private investors. This follows the ",{"text":645,"type":594,"marks":646},"US Department of Defense’s partnership with MP Materials",[647],{"type":604,"attrs":648},{"href":649,"uuid":49,"anchor":49,"target":49,"linktype":607},"https://source.benchmarkminerals.com/article/pentagon-invests-in-mp-materials-in-bid-to-break-chinas-rare-earths-dominance",{"text":651,"type":594}," for rare earths production.",{"type":589,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":594},"It is also notable that Canmax led a further AUD50 mn investment through a separate placement with other institutional investors.",{"type":589,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":594},"Hancock Resources, one of Liontown’s key investors, did not participate in the funding round.",{"type":616,"attrs":663},{"id":664,"body":665},"dcaed657-95a9-4159-b17e-9f15bded85b3",[666],{"id":667,"_uid":668,"type":623,"_editable":669,"component":625,"fixed_height":626,"use_fixed_height":50,"fixed_height_mobile":626,"fixed_height_tablet":626},"24600865","i-500cbea2-d943-4936-ba2d-7250e8b11ebe","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-500cbea2-d943-4936-ba2d-7250e8b11ebe\", \"id\": \"\"}-->",{"type":628,"attrs":671,"content":672},{"level":630,"textAlign":49},[673],{"text":674,"type":594},"What does Liontown’s equity raise mean for the lithium market?",{"type":589,"attrs":676,"content":677},{"textAlign":49},[678,680,686],{"text":679,"type":594},"Given the oversupply of the broader lithium market, Benchmark believes that some lithium mines would need to ",{"text":681,"type":594,"marks":682},"come offline",[683],{"type":604,"attrs":684},{"href":685,"uuid":49,"anchor":49,"target":49,"linktype":607},"https://source.benchmarkminerals.com/article/australian-lithium-supply-cut-by-15-due-to-low-spodumene-prices",{"text":687,"type":594}," to re-balance the market and give further upward support to prices.",{"type":589,"attrs":689,"content":690},{"textAlign":49},[691,693,699],{"text":692,"type":594},"Unlike the ",{"text":694,"type":594,"marks":695},"previous downcycle in 2020",[696],{"type":604,"attrs":697},{"href":698,"uuid":49,"anchor":49,"target":49,"linktype":607},"https://source.benchmarkminerals.com/publications/special-issues/1346054",{"text":700,"type":594},", the current bear market is characterised by stronger balance sheets, more fund raising opportunities, and sees large players holding strategic investments in lithium projects. For example, LG and Ford are both strategic investors into Liontown and so have a vested interest in Kathleen Valley staying online, even if loss making at current prices.",{"type":589,"attrs":702,"content":703},{"textAlign":49},[704],{"text":705,"type":594},"That said, before this investment round, without a positive cash-flow, Kathleen Valley was at risk of coming offline, given the challenging price environment. However, with the latest equity raise, which includes both governmental and institutional investments, it is unlikely that Kathleen Valley will be taken offline.",{"type":589,"attrs":707,"content":708},{"textAlign":49},[709,714,720],{"text":710,"type":594,"marks":711},"Download Benchmark’s Special Issue explaining ",[712],{"type":713},"italic",{"text":715,"type":594,"marks":716},"Why This Lithium Market Isn’t Like 2020",[717,718],{"type":713},{"type":604,"attrs":719},{"href":698,"uuid":49,"anchor":49,"target":49,"linktype":607},{"text":609,"type":594,"marks":721},[722],{"type":713},"Australian lithium miner Liontown Resources has raised AUD316 million (US$206 mn) in equity. This includes investments from the Australian government and major Chinese lithium chemical producer Canmax. The funds will support the ramp up of Liontown’s Kathleen Valley spodumene mine which began operations last year. This comes following a recovery in spodumene prices, which traded […]",[725],{"slug":577,"name":578,"content":726},{"job_title":580,"image":727,"bio":583,"linkedin":584},{"filename":582},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"f3995765-8fa1-49b3-a7ca-ba39a7bdd57a\", \"id\": \"\"}-->","article",[731,734],{"slug":732,"name":733},"critical-minerals","Critical Minerals",{"slug":735,"name":8},"lithium","private",{"id":49,"alt":738,"name":626,"focus":626,"title":738,"source":626,"filename":739,"copyright":626,"fieldtype":740,"meta_data":741,"is_external_url":51},"Chart titled: Liontown shares performing well amongst lithium peers","https://res.cloudinary.com/benchmarkminerals/images/f_auto,q_auto/v1754665887/www-production/Liontown-lithium-share-index@2x/Liontown-lithium-share-index@2x.png?_i=AA","asset",{"alt":738,"title":738,"source":626,"copyright":626},{"id":49,"alt":743,"name":626,"focus":626,"title":743,"source":626,"filename":744,"copyright":626,"fieldtype":740,"meta_data":745,"is_external_url":51},"Kathleen Valley lithium mine by Liontown","https://a.storyblok.com/f/287943243085208/8fcf283a21/bm-250328-liontown-019.jpg",{"alt":743,"title":743,"source":626,"copyright":626},"Aug 08, 2025","8th August 2025",[],[],1792773885200]