The plan is to fast track development with further processing and test work to be completed. Pic via Getty Images.
Scoping study highlights robust economics for Arizona’s Big Sandy Lithium Project
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Arizona Lithium has wrapped up the scoping study for its Big Sandy lithium project in Arizona and says it confirms the company is well positioned to become a long-term lithium producer to supply the rapidly growing demand for electric vehicles in North America.
The study shows the robust economics of Arizona Lithium’s (ASX:AZL) project, identifying key cost centres that allow for evaluation and optimisation – and creating optimum value.
Development of lithium projects is a priority for Federal US agencies following the signing of the Executive Order ‘Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals’ in 2017.
Plus, Big Sandy is also of strategic relevance given the Tesla Gigafactory is located around 960km by sealed interstate highway to the north-west.
The project is also a very shallow, flat lying mineralised sedimentary lithium resource and with existing infrastructure available, has the potential to be developed with a very low environmental footprint.
Fast track development
“Building on the work undertaken by Hazen Research on the initial design basis and flowsheet, the Scoping Study has further advanced the development of Big Sandy, which will be continued at our newly established Lithium Research Centre in Arizona,” Arizona Lithium MD Paul Lloyd says.
“AZL remains strongly capitalised to fast track the Project over the coming period with over $50 million in cash and I look forward to growing our technical team under the management of Phoenix based, Brett Rabe,”
In June, AZL signed a 5-year lease to establish a world class Lithium Research Centre, which is located on a 9,700m2 property in Tempe, Arizona, around 15km southwest of Phoenix Sky Harbor International Airport.
The Centre will function as a technology incubator focused on the extraction of lithium from a variety of ores and brines, as well as the production of battery-grade lithium chemicals for current and future battery technologies.
The plan is to fast track development with further processing and extraction test work to be completed.
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This article was developed in collaboration with Arizona Lithium Limited (ASX:AZL), 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.
