{"id":88568,"date":"2024-12-27T03:50:37","date_gmt":"2024-12-26T18:20:37","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=88568"},"modified":"2024-12-27T03:50:37","modified_gmt":"2024-12-26T18:20:37","slug":"lithium-wa-loans-mb3082","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/lithium-wa-loans-mb3082\/","title":{"rendered":"Western Australia&#8217;s Lithium Miners Offered A Helping Hand"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-88569\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/12\/lithium-miners-loans.jpg\" alt=\"Lithium mining in Western Australia\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/12\/lithium-miners-loans.jpg 1200w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/12\/lithium-miners-loans-300x158.jpg 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/12\/lithium-miners-loans-1024x538.jpg 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/12\/lithium-miners-loans-768x403.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p>WA&#8217;s lithium industry currently supplies around 50 per cent of the world&#8217;s needs, and the Cook Government would like to keep things that way.<!--more--><\/p>\n<p>Lithium is used in all sorts of energy storage applications; everything from cordless tools to <a href=\"https:\/\/www.solarquotes.com.au\/battery-storage\/comparison-table\/\">home batteries<\/a> and electric vehicles. Back in early 2023, Australian miners were making a motza from lithium, with spodumene<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/lithium-wa-loans-mb3082\/#en-88568-1' id='enref-88568-1' onclick='return hhEndnotes_show(88568)'>1<\/a><\/sup> prices as high as around USD $6,000 a tonne.<\/p>\n<p>The average spot price for Australian spodumene concentrate as at yesterday was just USD $845 a tonne.<\/p>\n<p>Australia\u2019s lithium spodumene export earnings fell 69% year-on-year in the September quarter 2024 to $1.2 billion according to Australian Government&#8217;s latest Resources and Energy Quarterly (<a href=\"https:\/\/www.industry.gov.au\/sites\/default\/files\/2024-12\/reqdec2024_03_03_0.pdf\">December 2024<\/a>) &#8211; even though export volumes rose 23% over the period. In dollar terms, 86% of spodumene exported from Australia in the September 2024 quarter was sent to China.<\/p>\n<p>The plummeting price of lithium has already claimed a few local scalps. For example, Mineral Resources announced in November 2024 it was placing its Bald Hill lithium mine in Western Australia\u00a0 into care and maintenance this month due to the decline; with the loss of 300 jobs. In September, Arcadium Lithium, one of the world\u2019s largest producers, announced plans to mothball its Mt. Cattlin spodumene operation (pictured above) in 2025.<\/p>\n<p>The lithium industry is a significant employer in Western Australia, supporting more than 11,000 jobs in the last financial year.<\/p>\n<h2>Loans For WA Lithium Miners<\/h2>\n<p>In November, the Cook Government announced a <a href=\"https:\/\/www.wa.gov.au\/service\/business-support\/industry-assistance-schemes\/lithium-industry-support-program-loan-facility\">Lithium Industry Loan Facility<\/a>; applications for which opened last week. The initiative seeks to provide temporary financial assistance to support ongoing operations of miners.<\/p>\n<blockquote><p>&#8220;The Lithium Industry Loan Facility will help our lithium miners pull through this challenging period, and come out even stronger into the future,&#8221; <a href=\"https:\/\/www.wa.gov.au\/service\/business-support\/industry-assistance-schemes\/lithium-industry-support-program-loan-facility\">said WA Premier Roger Cook<\/a>. &#8220;Our clean energy plan is positioning WA as a global renewable energy powerhouse, and our critical minerals industry will play a key role in WA&#8217;s economic future.&#8221;<\/p><\/blockquote>\n<p>The total maximum allowable loan is $15 million per successful applicant. There will be an interest-free period, which will end when average spodumene prices exceed US$1,100 per tonne for 2 successive quarters, or by 30 June 2026; whichever happens first. Companies will need to repay the loans through regular quarterly payments over the 2 years following the end of the interest-free period.<\/p>\n<p>Among the eligibility criteria, applicants must be actively operating a lithium mine located in Western Australia at commercial scale; with no plans to enter or be currently under care and maintenance.<\/p>\n<p>The facility is a component of the <a href=\"https:\/\/www.wa.gov.au\/government\/media-statements\/Cook%20Labor%20Government\/Lithium-Industry-Support-Program-to-protect-critical-WA-jobs-20241127\"> $150 million lithium support package<\/a> announced by the Cook Government last month.<\/p>\n<h2>Lithium Price Outlook<\/h2>\n<p>The December 2024 Resources and Energy Quarterly says the benchmark China lithium spodumene price is forecast to pick up to US$1,000 a tonne over 2025, and further recover to US$1,125 a tonne by 2026. But the report notes weaker than anticipated EV sales growth remains a risk for lithium prices.<\/p>\n<p>If the last few years are anything to go by, expect the unexpected; but prices aren&#8217;t expected to return to the highs of 2022 and 2023 for the foreseeable future.<\/p>\n<p>Australia&#8217;s lithium export earnings are expected to fall from $9.9 billion in 2023\u201324 to $6.5 billion 2025\u201326; revised down from $8.2 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WA&#8217;s lithium industry currently supplies around 50 per cent of the world&#8217;s needs, and the Cook Government would like to keep things that way.<\/p>\n","protected":false},"author":17,"featured_media":88569,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-88568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Western Australia&#039;s Lithium Miners Offered A Helping Hand<\/title>\n<meta name=\"description\" content=\"WA&#039;s lithium industry currently supplies around 50 per cent of the world&#039;s needs, and the Cook Government would like to keep things that way.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/lithium-wa-loans-mb3082\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Western Australia&#039;s Lithium Miners Offered A Helping Hand\" \/>\n<meta property=\"og:description\" content=\"WA&#039;s lithium industry currently supplies around 50 per cent of the world&#039;s needs, and the Cook Government would like to keep things that way.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/lithium-wa-loans-mb3082\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-26T18:20:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/12\/lithium-miners-loans.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Bloch\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@solar_quotes\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/lithium-wa-loans-mb3082\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/lithium-wa-loans-mb3082\/\"},\"author\":{\"name\":\"Michael Bloch\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#\/schema\/person\/66afd571aa00c2e442f0192ebac2f6f1\"},\"headline\":\"Western Australia&#8217;s Lithium Miners Offered A Helping Hand\",\"datePublished\":\"2024-12-26T18:20:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/lithium-wa-loans-mb3082\/\"},\"wordCount\":536,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/lithium-wa-loans-mb3082\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/12\/lithium-miners-loans.jpg\",\"articleSection\":[\"General Solar &amp; 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He's been reporting on Australian and international solar energy news ever since.","url":"https:\/\/www.solarquotes.com.au\/blog\/author\/michael\/"}]}},"jetpack_featured_media_url":"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/12\/lithium-miners-loans.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p2FF2s-n2w","jetpack-related-posts":[{"id":36489,"url":"https:\/\/www.solarquotes.com.au\/blog\/lithium-co2-intensity\/","url_meta":{"origin":88568,"position":0},"title":"Analyst Says Australian Lithium Needs To Get Greener","author":"Richard Chirgwin","date":"January 20, 2020","format":false,"excerpt":"I feel undeservedly lucky, that in the worst bushfire summer imaginable, fires came no closer than about 5 km from the little patch of bush I inhabit. The bushfire crisis brought home a fearful truth: climate change is no longer a worrying future - it\u2019s here and now, and we\u2026","rel":"","context":"In &quot;Battery Storage&quot;","block_context":{"text":"Battery Storage","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/battery-storage\/"},"img":{"alt_text":"Australian lithium mining and carbon intensity","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/01\/lithium-intensity.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/01\/lithium-intensity.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/01\/lithium-intensity.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/01\/lithium-intensity.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/01\/lithium-intensity.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":73165,"url":"https:\/\/www.solarquotes.com.au\/blog\/australian-lithium-exports-forecast-mb2884\/","url_meta":{"origin":88568,"position":1},"title":"Lots Of Love For Australian Lithium","author":"Michael Bloch","date":"April 4, 2023","format":false,"excerpt":"Australia already mines a shedload of an important lithium-rich mineral, and looks set to be digging up much more over the next few years. Lithium demand is continuing to grow rapidly, primarily driven by surging demand for electric vehicle (EV) batteries and other energy storage applications such as home batteries.\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Australian lithium forecast","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/lithium-forecast-australia.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/lithium-forecast-australia.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/lithium-forecast-australia.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/lithium-forecast-australia.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/04\/lithium-forecast-australia.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":57808,"url":"https:\/\/www.solarquotes.com.au\/blog\/liontown-lg-lithium-mb2314\/","url_meta":{"origin":88568,"position":2},"title":"LG Energy Solution Inks Deal With Australian Lithium Player","author":"Michael Bloch","date":"January 13, 2022","format":false,"excerpt":"Australia's Liontown Resources Limited says it has executed its first binding offtake term sheet for its flagship Kathleen Valley Lithium Project in Western Australia with LG Energy Solution. The Kathleen Valley Lithium Project, a lithium-tantalum mining and processing venture, is located approximately 680km north-east of Perth and 400km north of\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Liontown Kathleen Valley Lithium Project","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/01\/liontown-lithium-lg.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/01\/liontown-lithium-lg.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/01\/liontown-lithium-lg.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/01\/liontown-lithium-lg.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/01\/liontown-lithium-lg.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":60948,"url":"https:\/\/www.solarquotes.com.au\/blog\/tesla-fake-lithium-mb2435\/","url_meta":{"origin":88568,"position":3},"title":"Fake Tesla Lithium Announcement Catches Out Unwary Investors","author":"Michael Bloch","date":"April 15, 2022","format":false,"excerpt":"It turns out you shouldn't believe everything you read on the internet - and not just some of the stuff Elon Musk actually says. Last week, Tesla boss Elon Musk tweeted: \"Price of lithium has gone to insane levels! Tesla might actually have to get into the mining & refining\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Tesla - Lithium Corporation fake news","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/04\/lithium-tesla-fake.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/04\/lithium-tesla-fake.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/04\/lithium-tesla-fake.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/04\/lithium-tesla-fake.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/04\/lithium-tesla-fake.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":27335,"url":"https:\/\/www.solarquotes.com.au\/blog\/core-lithium-nt-mb0908\/","url_meta":{"origin":88568,"position":4},"title":"Core Scores NT Lithium Mining Lease","author":"Michael Bloch","date":"January 22, 2019","format":false,"excerpt":"South Australian headquartered Core Lithium says it is on its way to becoming the first lithium producer in the Northern Territory. Lithium is a key material in the production of batteries for electric vehicles and renewable energy storage applications such as solar batteries. Australia has significant lithium deposits, with most\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Core Lithium - Northern Territory","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/core-lithium-nt.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/core-lithium-nt.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/core-lithium-nt.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/core-lithium-nt.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/core-lithium-nt.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":58995,"url":"https:\/\/www.solarquotes.com.au\/blog\/lithium-tesla-liontown-mb2359\/","url_meta":{"origin":88568,"position":5},"title":"Tesla Taps Australia&#8217;s Liontown For Lithium Supply","author":"Michael Bloch","date":"February 17, 2022","format":false,"excerpt":"Tesla has joined LG Energy Solution in jumping on board the lithium train to Australia's Liontown. Liontown's flagship venture is its Kathleen Valley Lithium Project in Western Australia's North-eastern Goldfields. While it isn't producing yet, the project has attracted a fair bit of attention from manufacturers jostling to secure lithium\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Liontown's Tesla lithium deal","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/02\/liontown-lithium-tesla.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/02\/liontown-lithium-tesla.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/02\/liontown-lithium-tesla.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/02\/liontown-lithium-tesla.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/02\/liontown-lithium-tesla.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/88568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=88568"}],"version-history":[{"count":1,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/88568\/revisions"}],"predecessor-version":[{"id":88570,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/88568\/revisions\/88570"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/88569"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=88568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=88568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=88568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}