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Lithium Valley??? WA – Lithium Valley??? Phil Thick GM 29 January 2018 © Tianqi Lithium Australia Lithium Market Roskill (June 2017) & Combined Lithium Demand Forecasts through 2026 by Leading Global Lithium Analysts, Investment Banks & Market ParNcipants 1,200,000 2026 1,000kt LCE 1,000,000 800,000 2021 450kt LCE 600,000 LCE (ton) 400,000 200,000 - 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Average of CAGR EsNmates (13.4% CAGR) Roskill 2017 (17.7% CAGR) Source: Average of CAGR Es3mates (Roskill, June 2017; AlBemarle Investor Day Presenta3on, 16 March 2017; SQM Investor Day Presenta3on, 9 September 2017; Industrial Minerals Lithium Presenta3on, 1 June 2017; Canaccord Genuity Lithium Market Update, 27 June 2017; Stormcrow Lithium Presenta3on, 31 May 2017; Deutsche Bank Lithium Ion Age Report, 9 May 2016) § Roskill (June 2017) Base Case Forecast CAGR¹ (17.7%) / Consensus (13.4%) through 2026 § 4.2016 LCE Market² demand forecast to increase more than Update 3-5x from 200ktpa to 700-1,000ktpa by 2026 § Demand driven by the rechargeable baery sector which is supported by pro EV government policy and the introducNon of new EV models by automakers 2 Western Australian Lithium Talison Lithium – Greenbushes • Tianqi Lithium own 51% of Talison Lithium who operate the Greenbushes mine in Western Australia • 128 years of mining (Tin, Tantalum, Lithium) • Commenced manufacturing lithium concentrate in 1985, experts in this field for >30 years • World’s largest lithium producer (30-35% of the global lithium supply) • Largest and highest grade mineral resource globally • 2016 lithium proven and probable mineral reserves 86.40Mt at a grade of 2.35% Li2O (life of mine >60 years) • Highly flexible operation, able to adjust production profile to meet market demand 3 Western Australian Lithium Other Lithium Sources – Pilgangoora – Pilbara Minerals – Pilgangoora – Altura Minerals – Wodgina – Mineral Resources – Mt Marion – Mineral Resources/Neometals – Mt Cattlin – Galaxy Resources – Bald Hill – Tawana Resources – Earl Grey – Kidman Resources 4 Tianqi Lithium Corporation – Headquartered in Chengdu China, one of the 4 major global lithium companies – Listed on Shenzhen Stock Exchange market cap ~ US10 billion – Operates the two largest lithium carbonate plants in the world in China – Seeking expansion opportunities to meet rapidly rising global demand – Building new $400million plant in Kwinana – Fast tracked stage 2 of plant – another $320million already commenced – Expanding Greenbushes mine with $320million expansion – Kwinana Lithium Hydroxide Processing Plant (LHPP) will be the largest in the world – 3 times size of next largest – Highest purity lithium hydroxide in the world – Why Kwinana? 5 Kwinana – Multiple advantages • Kwinana is the largest industrial area in WA with approximately 4,500 people directly employed and 25,000 secondary jobs arsing from the companies in the area • 65% of people employed in the KIC are from the local area, so ready source of qualified and trained people • Access to water, gas and electricity • Access to reagents • Access to top quality construction and maintenance facilities • Proximity to mine and container port 6 Simplified and integrated production and delivery logistics supply chain Mine to chemical plant • Greenbushes to Kwinana • 250km, 3 hours by road Chemical plant to export port • Kwinana to Fremantle • 30km, 30 mins by road Conver=ng lithium ore to lithium chemicals in approximately 6 weeks (based on Tianqi’s produc=on chain) 7 LHPP Update • 100% Tianqi Lithium owned project currently under construction • Capacity: 48,000tpa battery-grade lithium hydroxide • World’s largest and first fully automated battery-grade lithium hydroxide facility • Train 1 (24,000tpa) construction expected to be complete by the end of 2018 • Train 2 expected to add another 24,000tpa capacity by the end of 2019 • Converting Greenbushes spodumene into battery-grade lithium hydroxide for use in the EV industry • ~85% of contract spend awarded to local WA companies 8 October 2016 9 January 2018 10 Where to from here? • Can WA/Kwinana become a key player in the global lithium market? • Can we go further down the supply chain? • Can we become a major battery producer? • What would it take to make these things happen? 11 .
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