–News Direct–
By Jeremy Golden, Benzinga
As one of the largest emitters of greenhouse gases in the global economy, the transportation sector is under heightened scrutiny. Experts are welcoming the transition from the more than 1.3 billion internal combustion engine vehicles currently on the road to electric vehicles (EVs), the largest source of demand for lithium.
Essential to the production of lithium-ion batteries, lithium demand is expected to quadruple by 2030, making it a critical mineral that is fueling the green revolution.
A mining company committed to the global energy transition is developing a nuanced, commercial-grade lithium operation economically and sustainably to support the EV and battery supply chains.
Lithium Ionic Corp. (OTCMKTS: LTHCF) is developing lithium properties in Brazil with the goal of extracting lithium in the near future. Located in Minas Gerais state in Brazil, Lithium Ionics properties span 14,182 hectares, or more than 35,044 acres, in this prolific lithium province.
Last month, Lithium Ionic published results that support a long-life and low-cost spodumene concentrate mining project with a post-tax net present value of $1.6 billion. In comparison, the companys market capitalization is about $140 million.
Bandeira Project Granted Priority Status
Since Lithium Ionic launched in May 2022, the company reports that its portfolio of properties has increased more than tenfold as it continues to assess prospective properties in this globally significant hard rock lithium district. Currently, the company is focused on advancing its flagship Bandeira Project toward a production decision.
The Itinga basin, also known as Brazils Lithium Valley, is situated within the Eastern Brazilian Pegmatite Province, the largest lithium pegmatite province in South America. Experts view it as one of the most significant emerging lithium spodumene basins globally. The region boasts excellent infrastructure, including highway access, hydro-electrical grid power, water and nearby commercial ports.
In July 2023, Lithium Ionics projects were granted priority status by the state of Minas Gerais regional government bodies, facilitating the acceleration of approvals and licensing through the development process and paving the way toward mine operation and production. Construction permits are expected to be obtained by mid-2024.
Last month, Lithium Ionics 100%-owned Brazilian subsidiary, MGLIT Empreendimentos Ltda, entered into an agreement with Cemig Distribuio S.A., the largest electricity distributor in Brazil. With access to Cemigs low-cost renewable hydroelectric power, Lithium Ionic will be prepared to fast-track Bandeira toward production by utilizing its existing power grid.
In October 2023, Lithium Ionic reported an updated mineral resource and Preliminary Economic Study. The company reported that the numbers support projections that the Bandeira Project can be a highly profitable operation. Since reporting robust project economics, Lithium Ionic has announced multiple sets of drilling results that demonstrate the quality of the system and the projects growth potential.
Following the positive results from its 50,000-metre drill program, Lithium Ionic says it is rapidly advancing Bandeira, its flagship project, toward a production decision. While it continues to explore other regional targets, permitting activities are progressing and the project engineering is advancing.
The Bandeira Project is in the same district where Companhia Brasileira de Litios Cachoeira mine has been producing lithium for more than 30 years. Nearby, Sigma Lithium operates the largest hard rock lithium deposit in the Americas through its Grota do Cirillo project. Drilling next to a multi-billion dollar lithium producer will allow Lithium Ionic to mirror this development by continuing to advance Bandeira.
Lithium Ionic reports that Bandeira has delivered an 84% resource growth rate in less than four months, demonstrating its upside potential.
The growth trajectory of this deposit since we began drilling it in April 2022 is a testament to its significance within our large portfolio of properties in this belt and will continue to be a key driver of our success, said Lithium Ionic CEO Blake Hylands. Bandeira represents just a fraction of our land holdings, and our team strongly believes that our success at this property could be replicated at our other properties in the region with the same effort.
This Canadian company is advancing its lithium projects in Brazils mining-friendly jurisdiction which is quickly emerging as a world-class hard-rock lithium district. Follow its progress by visiting lithiumionic.com.
Lithium Ionic is a Canadian mining company focused on becoming the next significant Brazilian lithium producer. Our properties are located in Brazils Minas Gerais state, a mining-friendly jurisdiction that is quickly emerging as a world-class hard-rock lithium-producing district. A recent PEA for the Bandeira Project indicates a long-life, low-cost, and highly profitable project with a Post-tax NPV8% of US$1.6B (~C$2.2B) and IRR of 121%. Our goal is to generate significant returns for our stakeholders by becoming the country's next producer of high-quality spodumene concentrate for the global lithium supply chain.
This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.
Contact Details
Caroline Arsenault
+1 647-316-2500
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/lithium-ionic-corp-the-western-hemispheres-next-significant-lithium-producer-698831865
Lithium Ionic
COMTEX_444590597/2655/2023-12-07T09:15:13
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