Latin has received a clear sign of support for the development of its Salinas lithium project in Brazil after signing a non-binding memorandum of understanding with Invest Minas.

Under the MoU, Invest Minas – a collaboration between Minas Gerais State Economic Development Department (SEDE) and the Minas Gerais Integrated Development Institute (INDI) to attract, regulate and promote economic activity in the State of Minas Gerais – will help fast-track approvals and licensing for the project.

It will do so by supporting Latin Resources’ (ASX:LRS) efforts to develop Salinas by facilitating approvals, assisting with securing additional land tenure, connecting suppliers to support the company’s activities and promoting its work.

The Minas Gerais regional government has also listed the project as a priority project, which provides a potential streamlined pathway through the regulatory approvals process.

In return, the company will invest in local employment through its ongoing exploration activities in the region and leveraging its access to world class engineers and other lithium supply chain specialists to develop a battery materials sector in Minas Gerais.

This collaboration will include two-way introductions and relationship-building; investment partnerships into the local lithium supply chain; and facilitating supply contracts into the region.

“We are delighted to formalise our extremely good relationship with the State of Minas Gerais into a collaborative agreement to support the region,” managing director Chris Gale said.

“This partnership reinforces the existing cooperation between Latin and the State of Minas Gerais, and we are very pleased to be able to contribute Latin’s expertise and network to develop a strong battery minerals industry in the region to fuel global demand for these minerals.

“The potential streamlined approvals pathway for Latin to take the Colina Deposit through feasibility studies and into production provides significant opportunity for the development of both the project and the region.”

Salinas project

Salinas is located 10km from the town of Salinas and hosts the Colina deposit, which has a current resource of 13.3 million tonnes grading 1.2% Li2O.

Recent drilling at the Colina West deposit has also intersected thick, spodumene rich pegmatites which extends its high-grade footprint to over 500m along strike and 300m updip.

Latin expects to deliver further resource upgrades later this year.




This article was developed in collaboration with Latin Resources, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.