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Capex on the up across the board

Posted on - 11 Oct 2023

Category - News & Views

Another month, another bunch of capex over-runs for new projects and it’s starting to become rather ubiquitous within the sector. This month it was Allkem (ASX:AKE), which reported a US$572m cost blow out at its global development projects, and Liontown Resources (ASX:LTR) which reported a further 6% increase in the capital cost estimate at Kathleen Valley to A$951m. Allkem reported a 33% increase in spend at James Bay to US$381.5m, coupled with a small downward tweak in production to 311Ktpa of SC vs 321Kt in its 2021 study. It also raised its cash cost estimate to US$407/t from US$333/t previously.

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