Lake Resources has partnered with Lilac Solutions to develop the Lake Kachi lithium brine project in Argentina.
Under the agreement, Lilac will provide the technology, engineering teams and an on-site demonstration plant, enabling it to acquire a stake of up to 25% in the Kachi project.
Lilac is also expected to provide funding of around $ 50 million for the development of the project leading to production.
Lake General Manager Steve Promnitz said, “Lilac’s technology is really disruptive as it has taken a non-mining technology solution, which lowers operating costs and increases lithium recovery from our brines.
“The process is modular and produces high purity lithium and can be quickly accelerated to pilot and commercial stage. This equity investment guarantees rapid commercialization of the Lilac technology on the Kachi site.
Lilac CEO Dave Snydacker said his technology has the potential to efficiently deliver large volumes of high-quality lithium chemicals needed by battery manufacturers.
Lake Resources plans to complete the Final Feasibility Study (DFS) for the Kachi Project and an Environmental and Social Impact Assessment (ESIA) in the second quarter of 2022.
The project is expected to produce 25,500 tonnes per year (tpa) of lithium carbonate (LCE), with commissioning and production expected in 2024.
Located at the southern end of the Carachi Pamp Salar Lithium Triangle, the Kachi lithium brine mining development is expected to require $ 544 million in capital investment over a 25-year project life.
Lake Resources President Stu Crow said: “With a successful fundraiser; by partnering with a leader in lithium processing that will put us in the lower quartile of the cost curve and by securing an expression of interest in debt financing from the Kingdom’s Export Credit Agency – United – The last few months have been busy for Lake. “