Eye on Lithium: Liontown’s another step closer to boom-time with approvals locked-in at Kathleen Valley
All your lithium news, Monday October 3.
The Western Australian Government has approved Liontown Resources (ASX:LTR) Mining Proposal and Works Approval for the 4Mtpa operation at the Kathleen Valley Lithium Project, paving the way for major site works to kick off.
Construction of the mine and processing plant will now ramp up and head into the execution phase in line with LTR’s development schedule over the remainder of 2022 and into 2023.
The ~$3.16b market cap company says it is targeting the completion of commissioning by the end of quarter two in 2024, placing the stock in good stead to become a leading global lithium producer.
Early construction works and pre-development activities include 68 rooms for the Accommodation Village, which have already been delivered to site, preparation for clearing of the process plant this week, and two thirds of construction tenders for Kathleen Valley which have been issued for quotation and are being progressively awarded.
LTR managing director and CEO Tony Ottaviano says this is another major milestone for the initial 2.5Mtpa project set to deliver 500ktpa of SC6.0 spodumene concentrate to global markets, with a planned expansion to 4Mtpa/700ktpa of spodumene concentrate within six years.
“This is a very exciting time for everyone involved and shareholders can look forward to steadily increasing news-flow in the weeks and months ahead as we move into the full-scale commercial development phase.”
17 lithium stocks finished in the green, 35 fell flat and a massive 79 companies found themselves in red territory.
CXO has completed the first sale of a spodumene DSO product (1.4% Li2O) from its Finniss Project near Darwin in the Northern Territory using a digital exchange platform.
A cargo of 15,000 dmt spodumene DSO was sold for US$ 951/dmt.
The product offered for sale is the post-crushing DSO material to a P100 size of 6.3mm and enables Core to commission all logistics processes and procedures in place between the Finniss mine site and Darwin Port in advance of the spodumene concentrate production in 2023.
Rock chip sampling at the newly named ’Faraday prospect’ within the Mt Edwards Project in Western Australia has identified lithium bearing pegmatites outcropping over a 600m strike with surface expressions up to 25m wide.
Visible spodumene has been uncovered across several locations with multiple high-grade Li2O values returned from 14 rock chip samples.
“To think we have 170,000t of contained nickel and we now can lay claim to hosting complementary and widespread lithium pegmatites in this world class lithium corridor,” managing director Steve Norregaard says.
Results include 2.61% Li2O, 3.70% Li2O, and 2.86% Li2O.
A geophysical program has started to identify the extent on the lithium brine reservoir ahead of drilling at the Carachi Lithium Project in Argentina’s Catamarca province.
The planned geophysics covers all tenements using 35 vertical electrical sounding (VES) locations and aims to describe the stratigraphy and resistivity profiles of the basin infill.
This work is expected to define the thickness of the freshwater horizons (between 100 and 200m) that need to be crossed in future drilling and will identify the extent of the highly conductive brine aquifer that underlies the fresh water.
It is expected that, being contiguous to Lake Resources (ASX:LKE), the survey will confirm that brine continues east from the LKE reservoir.
Results, interpretation, and technical report of the Vertical Electrical Sounding (VES) geophysical survey are expected late in October.
Geophysics exploration is steaming ahead at the North Big Smokey Lithium Project in Nevada where a controlled source audio-frequency magnetotellurics (CSAMT) has kicked off, with the view to fast tracking the understanding of the deposit.
The combination of soil samples and the CSAMT results will guide the company in the definition of the next phase of exploration.
Argosy is honing in on the development of its Rincon Lithium Project in Argentina’s Salta Province with works 97% completed.
The company is on track to achieve first battery quality lithium carbonate product with current commissioning works producing primary lithium product.
AGY says the commissioning phase works have progressed significantly with primary commissioning works well underway and advancing toward the fully integrated plant and systems commissioning process.
During the coming month, the product mill and magnetic drum installation works are scheduled for execution.
INF’s mining licence and permitting process has been initiated through the public presentation and submission of the Initial Document at the San José Lithium Project to local and regional authorities.
This collaborative process between the authorities and Infinity Lithium aims to identity the preferred location for the industrial lithium conversion facility.
According to INF, the Initial Document is based on the underground-only mining proposal where a positive scoping study was delivered back in October 2021.
INF says the purpose of this document is to request that the environmental body formulate the Environmental Impact Assessment Scoping Document (EIA) ahead of the EIA procedure.
The EIA will then be submitted to Extremadura New Energies within a period of three months from the date of the submission.