Mine / resource · Australia

Greenbushes

ProducingVerified 24 Oct 2026As of 25 Oct 2026
Owner
Talison (Windfield): TLEA 51% (Tianqi 51% / IGO 49%), Albemarle 49%
Listed via
002466.SZIGO.AXALB
Product
Spodumene
Deposit type
Spodumene
Capacity
FY26 1.41 Mt SC; FY27 guidance 1.55–1.75 Mt
≈ 220 kt LCE/yr (guidance)
Location
-33.86°, 116.06°
Source
Filing used for verification

CGP3 restarting after a June 2026 fire (about 7 weeks offline).

Ownership structure

Effective economic interest of listed owners · As of 23 Oct 2026
AlbemarleALB49%Tianqi Lithium002466.SZ26.01%IGOIGO.AX24.99%GreenbushesMine / resource

Attributable capacity

Listed ownerStakekt SC/yrkt LCE/yr
Albemarle ALB49%≈807≈108
Tianqi Lithium 002466.SZ26.01%≈429≈57
IGO IGO.AX24.99%≈412≈55

Capacity × effective stake. kt SC ≈ kt LCE × 7.5 (grade-based, 90% recovery).

Structure: Talison (Windfield): TLEA 51% (Tianqi 51% / IGO 49%), Albemarle 49%.

Value chain

Owners, buyers and the refineries on Li3atlas they feed · As of 24 Oct 2026
Listed ownersTianqi Lithium002466.SZ · 26.01%IGOIGO.AX · 24.99%AlbemarleALB · 49%
Mine / resourceGreenbushesFY26 1.41 Mt SC; FY27 guidance 1.55–1.75 Mt
Buyers (offtakes)AlbemarleSpodumene concentrate (SC6)Tianqi LithiumSpodumene concentrate (SC6)
Their refineries on Li3atlasKemertonRefinery · AustraliaLa NegraRefinery · ChileKwinana (Tianqi/IGO)Refinery · AustraliaSuining / ShehongRefinery · China

Quarterly production

As of 30 Jun 2026
0100200300400500UnverifiedJun Q 2025: 340 kt SC340AUD 366Sep Q 2025: 320 kt SC320AUD 388Dec Q 2025: 352 kt SC352AUD 373Mar Q 2026: 351 kt SC351AUD 446Jun Q 2026: 387 kt SC387AUD 448Q2 25Q3 25Q4 25Q1 26Q2 26Q3 26Cost/t

kt SC, as reported · Source: Sep Q 2024, Dec Q 2024, Mar Q 2025, Jun Q 2025, Sep Q 2025, Dec Q 2025, Mar Q 2026, Jun Q 2026

412$2,286Production (kt SC): 406Sales (kt SC): 391.7Sep Q 24Production (kt SC): 392.4Sales (kt SC): 312.3Dec Q 24Production (kt SC): 340.6Sales (kt SC): 366.1Mar Q 25Production (kt SC): 340.2Sales (kt SC): 411.9Jun Q 25Production (kt SC): 319.5Sales (kt SC): 300.7Sep Q 25Production (kt SC): 352.3Sales (kt SC): 327.5Dec Q 25Production (kt SC): 351Sales (kt SC): 349Mar Q 26Production (kt SC): 387Sales (kt SC): 391Jun Q 26
Production (kt SC)Sales (kt SC)Realised price (US$/t) (US$, right axis)Unit cost (≈ US$)
Jun Q 26Mar Q 26Dec Q 25Sep Q 25Jun Q 25Mar Q 25Dec Q 24Sep Q 24
Production (kt SC)387351352.3319.5340.2340.6392.4406
Sales (kt SC)391349327.5300.7411.9366.1312.3391.7
Implied inventory change (prod − sales)−4+2+24.8+18.8−71.7−25.5+80.1+14.3
Unit cost (AUD/t)448 ≈$291446 ≈$290373 ≈$242388 ≈$252366 ≈$238341 ≈$222324 ≈$211277 ≈$180
Realised price (US$/t)$2,286$1,668$850$730$725$791$736$872
Implied cash margin (US$/t)+$1,995 87%+$1,378 83%+$608 71%+$478 65%+$487 67%+$569 72%+$525 71%+$692 79%

Production minus sales in the same unit: positive = stockpile built at the mine or port, negative = drawn down. Margin = realised price − unit cost converted at fixed FX. Bases can differ (price often CIF and SC6-equivalent, cost FOB per t of the actual grade, before royalties), so treat it as indicative.

Resource and mine life

As of 25 Oct 2026
Resource
18 Mt LCE
Reserve
8.2 Mt LCE
Grade
MRE 1.6% Li2O; ORE 1.9% Li2O
Mine life
28 years
As of
31 Dec 2025

Unit cost

Basis
cash cost (production) per t spodumene concentrate (guidance A$380–440)
Period
FY27 guidance

Cost bridge to US$/t LCE

Reported unit cost
AUD 410/t
In US$ (fixed FX)
× 0.65 = $267/t
× t concentrate per t LCE
× 7.49 (6.0% Li₂O, grade not stated, 90% recovery)
Mine cost per t LCE
$2,000/t LCE
+ Conversion to chemicals (assumption)
$3,500 · China Merchant Toll
+ Royalty (WA 5% of realised price)
$701 (5% × SC6 $1,873/t, latest average realised)
Landed cost
$6,201/t LCE
Cost-curve quartile Q2 of 14 operations with a cost

Reported cash costs exclude the 5% WA royalty; it is modelled separately here. The conversion, freight and royalty settings are shared with the cost curve on the map page (Economics).

Position on the cost curve

Landed US$/t LCE, same assumptions as the cost curve · As of 25 Oct 2026
Hombre Muerto West (HMW): $3,963/t LCEQarhan Salt Lake: $4,292/t LCE (implied)Cauchari-Olaroz: $5,897/t LCEYichun lepidolite belt: $6,012/t LCE (implied)Greenbushes: $6,201/t LCEGreenbushesPilgangoora: $7,330/t LCEMibra: $7,416/t LCEWodgina: $7,489/t LCEFinniss: $7,913/t LCEZabuye Salt Lake: $8,265/t LCE (implied)Mt Marion: $9,166/t LCEGrota do Cirilo: $9,503/t LCEKathleen Valley: $10,203/t LCENorth American Lithium: $11,166/t LCE$11,1660

$6,201/t LCE · cheaper than about 57% of costed supply

Grey: every producing mine with a cost (width = capacity). Highlighted: this asset. Lighter dashed bars are implied costs (no reported unit cost).

Milestones

As of 24 Oct 2026

Upcoming (5)

  • Oct 2026IGO September 2026 Quarterly Activities ReportReport · source
  • 2027Plant debottlenecking lifts ore processed toward ~7 Mt/a by 2028; SC6 peak just over 2 Mt/a in 2029Expansion · source
  • 28 Jan 2027IGO December 2026 Quarterly Activities ReportReport · source
  • Feb 2027Greenbushes CY26 Mineral Resource and Ore Reserve updateOther · source
  • 22 Apr 2027IGO March 2027 Quarterly Activities ReportReport · source

Completed (3)

  • Aug 2026CGP3 production restarted after June 2026 fireRestart · source
  • Jun 2026CGP3 fire stops that plant for ~7 weeks (CGP1/CGP2 unaffected)Other · source
  • 18 Dec 2025CGP3 first ore processedFirst production · source

Offtakes and supply chain

As of 24 Oct 2026

Sells to

Country risk · Australia

Policy risk: Low As of 24 Oct 2026
Royalty
Western Australia: 5% of gross sales revenue on spodumene concentrate, at first point of sale (since 28 Mar 2020)

Stable fiscal regime; royalty set by the state. source

Change history

Approved changes with their source · As of 25 Oct 2026
DateFieldChangeSource
25 Oct 2026Realised pricenew: Spodumene US$872/t · Sep Q 2024 · chemical and technical grade, FOB AustraliaIGO December 2024 Quarterly Activities Report (30 January 2025)
25 Oct 2026Realised pricenew: Spodumene US$736/t · Dec Q 2024 · chemical and technical grade, FOB AustraliaIGO December 2024 Quarterly Activities Report (30 January 2025)
25 Oct 2026Quarterly figuresnew: Jun Q 2024 · production 332.288 kt SC · sales 530.457 kt SC · cost AUD 338 (cash cost (production) per t spodumene concentrate)IGO December 2024 Quarterly Activities Report (30 January 2025)
25 Oct 2026Quarterly figuresnew: Dec Q 2024 · production 392.447 kt SC · sales 312.347 kt SC · cost AUD 324 (cash cost (production) per t spodumene concentrate)IGO December 2024 Quarterly Activities Report (30 January 2025)
25 Oct 2026Realised pricenew: Spodumene US$1,020/t · Jun Q 2024 · chemical and technical grade, FOB AustraliaIGO September 2024 Quarterly Report (28 October 2024)
25 Oct 2026production_plannew: 2026: 1,500 · 2028: 2,000 · 2030: 2,000 · 2032: 1,700 · 2034: 1,800 · 2036: 1,700 · 2038: 1,600 · 2040: 1,600 kt SC6 · CY25 Ore Reserve life-of-mine schedule (Talison; reserve LoM, not a DFS/PFS), Figure 14 'Concentrate (Mt)' annotations, which the release gives for even-numbered years only (odd years not stated, not (as of 2025-12-31)IGO Greenbushes CY25 Resource and Reserve Estimates (12 February 2026)
25 Oct 2026Quarterly figuresnew: Sep Q 2024 · production 405.988 kt SC · sales 391.687 kt SC · cost AUD 277 (cash cost (production) per t spodumene concentrate)IGO December 2024 Quarterly Activities Report (30 January 2025)
25 Oct 2026Realised pricenew: Spodumene US$1,034/t · Mar Q 2024 · chemical and technical grade, FOB AustraliaIGO March 2024 Quarterly Activities Report (30 April 2024)

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