Conversion refinery · Australia

Kwinana (Covalent)

RampingVerified 23 Oct 2026As of 25 Oct 2026

Owner: Covalent: SQM / Wesfarmers
Listed via: SQM WES.AX
Product: LiOH
Deposit type: Conversion
Capacity: 50 kt LiOH design (to confirm); below design rate through FY27
≈ 44 kt LCE/yr (nameplate)
Location: -32.22°, 115.77°
Source: Filing used for verification

First hydroxide July 2025; odour issues being fixed; faster ramp expected 2H FY27.

Ownership structure

Effective economic interest of listed owners · As of 25 Oct 2026

Listed owner	Stake	kt LCE/yr
SQM SQM	50%	≈22
Wesfarmers WES.AX	50%	≈22

Structure: Covalent: SQM / Wesfarmers.

Owners, buyers and the refineries on Li3atlas they feed · As of 25 Oct 2026

Conversion refineryKwinana (Covalent)50 kt LiOH design (to confirm); below design rate through FY27

As of 24 Oct 2026

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

Approved changes with their source · As of 25 Oct 2026

Date	Field	Change	Source
25 Oct 2026	Map position	-32.150°, 115.820° → -32.221°, 115.772°	GHD for Covalent Lithium: Air Quality Impact Assessment, Lithium Refinery 15 Mason Road Kwinana (EPA WA referral, Appendix D)
24 Oct 2026	Milestone	new: Jul 2025 · First LiOH product in commercial specification First production Completed	SQM Form 6-K: 2Q2025 earnings release (SEC EDGAR, filed 25 Aug 2025)
23 Oct 2026	Capacity	50 kt nameplate → 50 kt LiOH design (to confirm); below design rate through FY27	S&P Global on Wesfarmers FY26 results (secondary)
23 Oct 2026	Notes	new: First hydroxide July 2025; odour issues being fixed; faster ramp expected 2H FY27.	S&P Global on Wesfarmers FY26 results (secondary)