Reuters reported that Talison Lithium will double capacity at its Greenbushes lithium mine and processing facility in Australia as demand for the metal used in lithium ion batteries continues to rise.

Greenbushes in southwestern Australia will be expanded to process 740,000 tonnes of lithium carbonate a year up from current annual capacity of 315,000 tonnes. The expansion will cost AUD 65 million to AUD 70 million. Site work will begin in April and it expects to ramp up production in the Q2 of 2012.

Mr Peter Oliver CEO of Talison said that "After completion of the expansion, Talison's production capacity will be broadly equivalent to the size of the total global lithium market in 2010. An expansion of this scale demonstrates Talison's confidence in the outlook for the lithium market."

(Sourced from Reuters)