The Share Scheme Meeting is to be held on February 27, 2013 at the Perth Convention and Exhibition Centre, 21 Mounts Bay Road, Perth, Western Australia, Australia at 10. Forward-looking information can often, but not always, be identified by the use of words such as plans, expects, is expected, budget, scheduled, estimates, forecasts, intends, anticipates, predicts, potential, continue or believes, or variations including negative variations of such words, or statements that certain actions, events or results may, could, would, should, might, potential to, or will be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. Welcome to Talison Lithium Talison Lithium is a leading global producer of lithium with projects in Western Australia and Chile. The Subscription has been made in connection with Windfield's previously announced proposed acquisition of Talison Lithium Limited Talison by way of schemes of arrangement the Transaction. Mine production is expected at an initial rate of 200 000 tpa of 6% Li 2O chemical grade spodumene concentrate, containing about 12 000 tonnes of Li 2O.
Readers are cautioned that forward-looking statements are not guarantees of future performance. We think beyond business-as-usual to drive innovations that create lasting value. It seeks stable and long-term financial returns within its risk tolerance and operates on a commercial basis. While Windfield has not yet finalised the price, if the proposal is made, the price would be higher than contemplated under the proposed Rockwood Scheme. The transaction required approval from the Australian Foreign Investment Review Board. Lithium brines are the dominant feedstock for lithium carbonate production.
The resource data does not include Canada. Notices of the Scheme Meetings are included as Annexures H and I to the Scheme Booklet. Both companies have received approval for the final mining proposal from the Western Australian Department of Mines and Petroleum, allowing construction of the minerals processing plant at Mount Marion. Tianqi through subsidiaries currently purchases approximately 40% of the chemical grade lithium concentrate produced by Talison and is the sole distributor in China of Talison's technical grade lithium concentrate. Tianqi has enjoyed a strong and mutually beneficial relationship with Talison and its predecessors since 1997. The Option Scheme Meeting is to be held on February 27, 2013 at the Perth Convention and Exhibition Centre, 21 Mounts Bay Road, Perth, Western Australia, Australia at 10.
Prior to suspending operations, the Mount Cattlin deposit had mined 616 714 tonnes of ore grading 1. All quotes are in local exchange time. Lithium has a range of uses in both chemical and technical applications. Wu Wei has been serving as President, Director in Tianqi Lithium Industries, Inc. While Talison considers these factors, estimates and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
Tianqi Lithium holds a significant market share and is one of the most important raw material providers for the clean energy industry in China. Lithium Li is recovered from both mineral deposits, largely from the mineral spodumene Li 2O. Altura undertook diamond drilling in the first half of 2013 for secondary process testing. This plant was commissioned in mid-2012 and officially opened in August 2012. Exercise of the option by Tianqi does not include any material interest in Albemarle's lithium-based battery and energy storage business, its lithium reserves and operations in South America, the U.
For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Risk Factors in the Company's Annual Report on Form 10-K. As part of the 30% ownership agreement, project development at the Mount Marion project is being fully funded by Mineral Resources. The deposit has total contained resources of 14 867 kt at 1. At October 2012, the project had total resources of 25 157 kt at 1. The lithium produced by Talison Lithium is used in batteries for consumer electronics, electric bicycles, buses and passenger vehicles. Tianqi's financial investment is subject to conditions precedent, including execution of a partnership agreement to be negotiated by the parties, payment by Tianqi of the exercise price, and receipt of regulatory clearances and other approvals. The engineering company will carry out.
Pending satisfaction of the conditions precedent, the investment is expected to close in the first half of 2017. This is made up of 11,343,522 shares already owned by Windfield and a further 5,799,900 shares, representing 5. Aluminium-lithium alloys, for example, are used in the aerospace and motorsport industries. Cautionary Note Regarding Forward-Looking Statements Certain information contained in this press release, including any information as to Talison's mineral reserve and mineral resource estimates, strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, may constitute forward-looking information within the meaning of Canadian securities laws. The company is also undertaking a pre-feasibility study and is actively seeking an off-take partner to progress development of the Pilgangoora project. The funding arrangements outlined above remain subject to the satisfaction of a number of conditions precedent to drawdown. The decision on when mining operations will commence at Mount Marion is under review, having been delayed because of economic and financial market conditions, and the decision by Talison Lithium to significantly expand lithium production at the nearby Greenbushes Lithium Operations mine.
New advice has found the federal environment. In full production, the Mount Cattlin project will produce 137 000 tpa of 6% Li 2O spodumene concentrate and about 25 tonnes of tantalite concentrate for an expected mine life of 16 years. Tianqi's financial adviser is RedBridge Grant Samuel, its tax and accounting adviser is PricewaterhouseCoopers, and its legal advisers are Linklaters and ZhongLun in China, Allens in Australia and Stikeman Elliott in Canada. Tianqi and its subsidiaries conduct their operations mainly from China, but have customers, business partners and suppliers in various countries around the world, including Europe, Australia, the United States and Japan. March 26, 2013: Windfield Holdings Pty Ltd, a wholly-owned subsidiary of Tianqi and Sichuan Tianqi Lithium Industries of the Chengdu Tianqi Industry Group, Co. In addition, the Scheme Booklet will be mailed to Talison Shareholders and Talison Optionholders on or about February 5, 2013. The Share Scheme Meeting and the Option Scheme Meeting The Federal Court of Australia has ordered the convening of meetings of Talison Securityholders of Talison to consider the Tianqi Schemes Scheme Meetings.