-- Under the terms of the exclusivity agreement, the two companies will work to execute a binding transaction by Jan 23, allowing the local Australian firm to acquire a 50% interest in all mineral rights within the tenements, other than iron-ore, which Jacob Metals Global will retain, and tantalum, which is held by local company.
The joint venture will target to develop existing facility, a world-class hard rock lithium deposit with an estimated mine life of more than 30 years.
The partners will jointly fund, design, build and operate a lithium hydroxide plant at the identified locations. Local australian partner firm will contribute its core design to the proposed plant that will produce targeted quantity of battery grade lithium hydroxide in the first stage and 100Ktpa in the second stage.
Once the concentration plant reaches peak production, the JV project will produce up to 750Ktpa of 6% spodumene concentrate from same location.
Dr KVM Naidu said the agreement is a good fit between the corporate cultures and skillsets of the two companies to flourish together.
“Our proven local Western Australian capability is extremely well complemented by Jacob Metals Global proven technical downstream processing expertise and their international marketing capabilities in lithium and other energy storage minerals,” Australia counterpart Gary Wilde quoted.
Contact Info:
Name: Dr KVM Naidu
Email: Send Email
Organization: Jacob Metals Global Limited
Website: http://www.jacobmetals.org
Release ID: 453743
Google
RSS