Liontown Resources' (ASX:LTR) board reached a final investment decision to proceed with the Kathleen Valley expansion in Western Australia, with total approved capital of AU$389 million to be be spent between fiscal 2027 and 2029, according to a Wednesday filing with the Australian bourse.

The expansion is anticipated to deliver first incremental tonnes in fiscal 2028, aimed at a steady-state five-year average annual production of about 780,000 dry metric tonnes (dmt) per year of spodumene concentrate from fiscal 2030, anticipated to peak at over 800,000 dmt in fiscal 2034, the filing said.

The company's fiscal 2027 guidance for concentrate production of 390,000 dmt to 440,000 dmt remains the same, while the total capital expenditure guidance is updated to between AU$435 million and AU$495 million from between AU$320 million and AU$370 million, per the filing.