Bald Hill, a mine located 50 kilometers southeast of Kambalda, Western Australia, was forced to shut down during the previous round of lithium price downturn. Acquired by Living Waters in 2009, it was transferred to Australian HRM Resources in 2011. HRM renamed to Alliance Mineral Assets Limited in 2014, signed an agreement granting Tawana exclusive exploration rights in 2016, merged with Tawana in 2018, and became Alita Resource in March 2019.
Bald Hill commenced operation in March 2018, initially achieving a yearly lithium concentrate capacity of about 150,000 mt and started shipping in May 2018. In 2019, due to a significant lithium price drop and persisting mining costs exceeding selling price, Alita Resources filed for bankruptcy. American lithium miner Austroid planned an acquisition, but earlier this year, Australian Treasurer Jim Chalmers, based on Foreign Investment Review Board (FIRB) recommendations, blocked the transaction due to Austroid's ties with a Chinese lithium battery manufacturer, which FIRB deemed could potentially threaten Australia's economic interests.
In September 2023, MinRes signed an agreement with Alita's administrators to acquire Bald Hill. By November 2023, according to MinRes' official website, the acquisition was completed, with MinRes now owning 100% of Bald Hill's equity. Besides Bald Hill, Mineral Resource owns two other mines, Wodgina (50% stake, 50% held by Albemarle) and Mt Marion (50% stake, 50% held by Ganfeng Lithium). Wodgina has three processing lines, each with a 250,000-mt lithium concentrate capacity, totaling 750,000 mt/year. Mt Marion is currently increasing its capacity from 450,000-480,000 mt of lithium concentrate per year to 900,000 mt/year (mixed grade).
