The Perth-based diversified miner said site activity will begin ramping up in late May, with crushing and mining operations scheduled to start in June and first spodumene concentrate production expected from July. The first shipment from the Port of Esperance is expected in the first quarter of the 2027 financial year, with full capacity targeted in the second quarter.
Bald Hill, located about 50 kilometres south-east of Kambalda in the Goldfields region, was placed on care and maintenance in November 2024 after a steep fall in lithium prices forced producers globally to preserve cash, defer projects and cut costs. The restart marks one of the clearest signs that higher spodumene and lithium carbonate prices are beginning to influence operating decisions after a prolonged downturn.
The mine has a mineral resource of 58.1 million tonnes at 0.94 per cent lithium oxide and annual production capacity of about 165,000 dry metric tonnes of 5.1 per cent spodumene concentrate, equivalent to 140,000 dry metric tonnes of SC6 concentrate. Spodumene from Bald Hill is trucked to Esperance for export to global battery supply chains.
Mineral Resources expects restart costs, including working capital, of about A$20 million in the fourth quarter of the 2026 financial year. The company said its mining services division will handle mining, crushing, processing and haulage, using its integrated build-own-operate model to limit external mobilisation risks. About 370 jobs are expected to be created, including roughly 110 redeployments from other company operations, with those roles to be backfilled.
Managing director Chris Ellison said stronger and sustained demand for spodumene concentrate had made the timing right for Bald Hill’s return. He said the combination of a production-ready asset and in-house mining services capability would allow the group to move quickly as market conditions improve. Once Bald Hill resumes production, Mineral Resources will operate three hard-rock lithium mines with their own spodumene concentrate facilities, alongside its interests in Wodgina and Mt Marion.
The decision follows months of improving sentiment in lithium markets, where prices had fallen more than 90 per cent from their 2023 highs as supply expanded faster than demand. The correction hit producers across Australia, China and the Americas, triggering project delays, refinery shutdowns and workforce reductions. The sector has since drawn support from stronger demand for electric vehicles, growth in grid-scale energy storage and disruption risks in parts of the supply chain.
Lithium carbonate and spodumene prices have risen sharply from last year’s lows, although analysts remain divided over whether the recovery is durable. Demand from battery energy storage systems has become a more important driver of consumption, offsetting slower growth in some passenger electric vehicle markets. China remains the central force in both demand and processing, while Australia continues to dominate hard-rock lithium mining.
Supply conditions remain complex. Some curtailed mines can return if prices stay high, but restarts are not automatic. Operators must secure contractors, rebuild rosters, test processing circuits, manage haulage and port logistics, and ensure that new production does not arrive into a market that again becomes oversupplied. That caution is particularly relevant after the 2022-23 lithium boom encouraged rapid investment before prices collapsed.
Bald Hill’s return will be closely watched by peers with idled or reduced operations. Core Lithium’s Finniss project in the Northern Territory and other marginal hard-rock assets are viewed as potential beneficiaries if current price levels hold. Larger producers, however, remain selective. Western Australian processing economics remain under pressure, with some conversion plants struggling to compete against lower-cost facilities elsewhere.
For Mineral Resources, the restart also carries strategic importance beyond lithium prices. The company has been reshaping its balance sheet and portfolio while relying on iron ore, mining services and lithium to support earnings. Its Onslow Iron project has become central to growth, while lithium provides exposure to longer-term electrification demand. Bald Hill adds near-term optionality without the heavy capital burden of building a new mine.
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