IGO and Venus Metals Ramp Up Lithium Search in Western Australia State Forests
Joint venture launches new field program at Bridgetown-Greenbushes project after ministerial approval
The joint venture partners received the green light to conduct exploration activities in the region, which sits adjacent to one of the largest lithium deposits at Greenbushes.
The Greenbushes mine, operated by Tianqi Lithium and IGO, is the largest hard-rock lithium operation globally and a critical supplier to the battery supply chain.
Venus Metals holds the tenements in the area, with IGO exercising its joint venture rights to conduct exploration. The low-impact field program will focus on identifying additional lithium-bearing pegmatites in the region.
Western Australia remains the dominant source of hard-rock lithium globally, with the state deposits feeding battery production facilities across Asia and increasingly in North America and Europe.
Analysis
Why This Matters
Lithium exploration near existing world-class deposits could significantly extend the production life of the Greenbushes region, which is critical for global EV battery supply chains.
Background
The Greenbushes lithium mine has been operating since the 1980s and underwent massive expansion as electric vehicle demand surged. IGO acquired a stake in the mine through its acquisition of Western Areas in 2022.
Key Perspectives
For mining companies, additional discoveries near established infrastructure would be highly economic to develop compared to greenfield projects.
For WA, continued lithium exploration supports the state position as a critical minerals powerhouse.
What to Watch
Progress of the field program and any significant intercepts or discoveries announced over the coming months.