Allkem (ASX:AKE) has released an announcement regarding an increase in the estimated development capital cost for their Sal De Vida Project.

The previously reported estimate was US$271 million.

According to the new study, the estimate has now increased to US$374 million.

Pre-commissioning and commissioning activities for the project are expected to occur in H1 CY25, with the first production expected in H2 CY25.

Allkem is a company involved in various fields, including but not limited to, manufacturing and distribution of chemical and mineral resources.