Gina Rinehart’s Hancock Prospecting is planning to start construction of a new AU$1 billion lithium mine in Western Australia in 2028, capitalising on lithium’s price resurgence on global markets.
Plans submitted to federal regulators late last week by project operator Azure Minerals outline a substantial 30-year operation near Roebourne, 200 kilometres south-west of Port Hedland, The Australian Financial Review reported.
The proposed Andover mine aims to extract six million tonnes of ore annually to produce up to 1.1 million tonnes of lithium concentrate.
The projected output positions Andover to become Australia’s second-largest lithium mine, trailing only Greenbushes and operating at a similar scale to Pilbara Minerals’ flagship Pilgangoora asset.
The submission indicates a larger project footprint than originally anticipated by market analysts when Rinehart and SQM first privatised Azure Minerals for AU$1.7 billion in late 2023.
The joint venture, which is 40 per cent owned by legendary prospector Mark Creasy’s private companies, originally took control of the early-stage discovery during a market downturn.
Spodumene concentrate prices had crashed from US$8,000 a tonne to US$1,000 a tonne, eventually bottoming out at US$575 a tonne in mid-2025.
However, a fierce market rally has since driven prices back up to US$2,960 a tonne, greenlighting the ambitious development.
Construction is scheduled to begin in November 2028, creating a two-year build phase before the product is trucked to Port Hedland for export.
The project sits on the native title lands of the Ngarluma people. Azure confirmed that negotiations for a formal land-use agreement are currently ongoing. The Ngarluma ancestral lands already host major infrastructure for iron ore giant Rio Tinto.
Andover’s progression comes amid broader signs of life in the battered sector.
Last week, Core Lithium greenlit a AU$274 million mining contract to restart its mothballed Finniss operations in the Northern Territory, further signalling renewed industry confidence.
