[EMP Metals Obtains Construction and Operation Permit for Aurora Project Demonstration Plant]
EMP Metals Corp. is pleased to announce that it has obtained construction and operation permits from the Saskatchewan Ministry of Energy and Resources and the Rural Municipality of Tecumseh No. 65, respectively, to build a lithium refining demonstration plant named "Project Aurora" within the province.
The demonstration plant will be located on the same well pad as the company's existing horizontal well 4B-23 and vertical test well 4A-23, in the Viewfield area of southeastern Saskatchewan. The planning and construction progress for the plant infrastructure are on schedule, site leveling has commenced, and plant construction is planned to begin in early September.
As previously disclosed, Project Aurora is a collaboration between EMP Metals and Saltworks Technologies Inc., aiming to apply innovation, reduce costs, and manage risks associated with lithium brine extraction and refining technology. This direct wellhead-connected demonstration unit will process and purify raw lithium brine into a concentrated lithium chloride solution (CLC), which will then be transported to Saltworks' existing converter plant in Richmond, British Columbia, for the continuous production of lithium chemical products.
About EMP Metals
EMP is a Canadian lithium exploration and development company focused on developing large-scale resources utilizing Direct Lithium Extraction (DLE) technology. The company currently holds over 205,000 net acres (approximately 83,000 hectares) of subsurface mineral rights and strategic well bores in southern Saskatchewan.
Source: Junior of mining
[Lithium Ionic Enhances Projected Returns for Brazilian Project]
Lithium Ionic Corp. stated that the final feasibility study for its Bandeira project in eastern Brazil indicates higher project returns, lower capital costs, and a longer mine life compared to previous calculations.
Benefiting from increased reserves and optimized mine design, the Bandeira project's after-tax net present value (NPV) is now $1.45 billion, up from the $1.31 billion estimated in May 2024. The project's internal rate of return (IRR) improved from 40% to 61%, and the payback period shortened from 3.4 years to 2.2 years. Lithium Ionic released these figures in a statement on Wednesday.
This news of improved economics comes just about four months after Lithium Ionic last increased the project's resource estimate by approximately one-third. The Bandeira project is located in Minas Gerais state, approximately 1,000 km north of Rio de Janeiro. According to a presentation published on the company's website, production at the project is expected to commence in H2 next year.
Lithium Ionic's share price rose 3.8% to C$0.82 on the Toronto Stock Exchange on Wednesday morning, giving the company a market capitalization of approximately $130 million. Over the past year, the stock traded between C$0.5 and C$1.15.
Cost advantages
Capital expenditure, including contingencies, is now $191 million, a 28% reduction from the previous $266 million. Operating costs are $378 per mt of spodumene concentrates, which the company stated would place the Bandeira project in the first quartile of global lithium production costs (i.e., the lowest 25% cost range).
The projected operating life of the Bandeira project is 18.5 years, up from 14 years in the previous study. The company indicated that the average annual production of spodumene concentrates over the project's life cycle is expected to be 177,000 mt.
As of May 6, Bandeira's total measured and indicated resources amounted to 27.27 million mt at a grade of 1.34% Li₂O, equivalent to 901,100 mt of LCE, higher than the 696,500 mt in last year's study. The project's inferred resources also increased slightly by 1.9% to 18.55 million mt at a grade of 1.34% Li₂O, equivalent to 615,400 mt of LCE.
The mining rights area for the Bandeira project is approximately 1.6 square kilometers, representing only about 1% of Lithium Ionic's total area of 141.8 square kilometers in Brazil's "Lithium Valley." The region also includes the company's other project, Salinas, located about 120 kilometers north of Bandeira.
Source: mining.com
[EnergyX Acquires Daytona Lithium, Expands Arkansas Resource Footprint]
Pantera Lithium announced on Tuesday that shareholders voted overwhelmingly in favor of the sale of its subsidiary Daytona Lithium to Energy Exploration Technologies (EnergyX).
Daytona Lithium indirectly holds mining rights in southwestern Arkansas; EnergyX is advancing its Lonestar Lithium project in the local Smackover Formation, with its demonstration plant nearing completion.
Earlier this summer, EnergyX acquired an additional 35,000 acres in the Smackover Formation for $26 million, bringing its total land holdings in the belt to 47,500 acres. This lithium-bearing brine formation stretches from Florida to Texas.
In an email, EnergyX stated that the acquisition "strengthens the company's mineral resource base and accelerates the securing of the US lithium supply chain through its direct lithium extraction and refining technology portfolio."
The privately held company has raised over $110 million to date, with investors including international industrial players such as General Motors, Italy's Eni, and South Korea's POSCO. Previously, EnergyX secured 90,000 acres of lithium mining concessions in Chile in 2023 and purchased a 40,000-square-foot production site in Austin, Texas, in 2024.
Source: mining.com
[Savannah Resources Increases Barroso Lithium Mine Reserves by 40%]
Savannah Resources has raised the reserve estimate for its Barroso lithium project in northern Portugal by 40% after completing supplementary exploration, further consolidating the mine's position as Europe's largest spodumene deposit.
The London-listed firm's latest announced reserves exceed 39 million mt, up from the previous estimate of 28 million mt. Following the news, Savannah's stock rose 2.4% during intraday trading, bringing its market capitalization to £104 million (approximately $141.5 million).
Savannah stated in an announcement: "This not only establishes Barroso as a key source of raw materials for Europe's EV battery industry chain, but will also generate substantial long-term value for the local community."
The company plans to build four open-pit mines at Barroso, with combined annual production of lithium concentrates sufficient to meet the battery demand for approximately 500,000 EVs. Subject to permitting and financing, production is expected to commence in 2027.
Once operational, the project is designed to process 1.5 million mt of ore annually over a mine life of around 14 years; this calculation is based on a resource of 20.5 million mt at a grade of 1.05% lithium oxide.
Local and Environmental Opposition
Despite its strategic importance, the Barroso project faces strong opposition from local communities and environmental protection groups. The area has been designated by UNESCO as a "Globally Important Agricultural Heritage System" since 2018, with public concerns that mining could harm land use, water sources, and biodiversity.
Savannah indicated that it is striving to complete the final feasibility study and environmental permitting process by the end of 2024. The company also denied media reports claiming that "a United Nations committee accused the Portuguese government of violating international law during the project approval process."
Source: mining.com
