Australian mining company Liontown's fourth quarter financial report showed that the progress of its new mine area, the Kathleen Valley project, has exceeded 72%, and the first production is expected to take place in mid-2024. The company's current cash balance is 517 million Australian dollars, which will continue to support the project's production. However, the plan to increase the capacity of the project from 3 million tons per year to 4 million tons per year has been temporarily postponed due to a significant decrease in the price of lithium concentrate.