UPDATE 1-Talison Lithium reports record Q1 production

Mon Oct 18, 2010 10:52am EDT

* Q1 lithium production up 24 pct, sales up 6 pct

* Shares down 1.04 pct at C$4.75 in Toronto

TORONTO Oct 18 (Reuters) - Talison Lithium TLH.TO said on Monday that quarterly production was up 24 percent thanks to improved efficiency at its processing plants.

The company said it produced a record 80,729 tonnes of lithium concentrate, the equivalent of about 12,000 tonnes of lithium carbonate, at its Greenbushes mine in Australia in its first quarter, ended Sept. 30.

Lithium carbonate is used in ceramics, batteries and the pharmaceutical industry.

The Perth, Western Australia-based miner, which is the biggest producer of lithium in the world by sales, sold 52,524 tonnes of concentrate in the quarter, a 6 percent increase over the same period a year earlier.

In addition, Talison sold 17,333 tonnes of crushed ore into China. The company said it continues to produce at capacity and is selling 100 percent of its product.

The miner said it expects annual production for fiscal 2011 to exceed 43,000 tonnes of lithium carbonate.

Shares in Talison were down 1.04 percent at C$4.75 on Monday morning on the Toronto Stock Exchange.

($1=$1.02 Canadian) (Reporting by Julie Gordon; editing by Rob Wilson)

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