Heavily indebted Mineral Resources will pump $150 million into its struggling Mt Marion Lithium operation to keep it afloat through the commodity’s extended downturn, according to a filing by its Chinese partner.
Ganfeng Lithium will also help bail out the West Australian project with a $150 million collateral-free loan to be matched by joint venture partner MinRes, according to a statement to the Hong Kong Stock Exchange.
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Mark Wembridge covers resource companies for The Australian Financial Review, based in Perth. He formerly worked for the Financial Times in London and Hong Kong. Connect with Mark on Twitter. Email Mark at mark.wembridge@nine.com.au
