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Latin Resources secures option over lithium extraction technology

Published: 15:15 05 Oct 2017 AEDT

map of Argentina provinces
A lab-scale pilot plant will be built to test the technology

Latin Resources (ASX:LRS) has signed an option agreement for an exclusive licence to use patented lithium extraction technology in Argentina, Australia,  China, Canada and the U.S.

The patented, environmentally-friendly, spodumene to lithium carbonate technology was developed by the National University of Cuyo (UnCuyo) in Mendoza, Argentina.

Importantly, this technology will potentially allow Latin to develop its large-scale hard rock spodumene pegmatite projects in Argentina into lithium carbonate production.

Latin has over 1,000 square kilometres of prospective exploration concessions in the lithium pegmatite districts of Catamarca and San Luis Provinces in Argentina.

The company’s focus is on developing a JORC resource over the coming months and then moving into design phase for a spodumene concentrate plant.

Chris Gale, managing director, commented

“The securing of a lithium carbonate technology is another step forward for Latin Resources to move into the lucrative production of the highly valued electric battery minerals market.

“The current price of spodumene concentrate is $700‐$900 compared to lithium carbonate price of between $12,000-$15,000, this will add incredible value if the technology is proven successful at commercial scale.”

Opportunity to fast-track production

The company’s lithium exploration projects together with existing plant processing capacity in San Luis presents a unique opportunity for Latin Resources to fast-track production of spodumene concentrate.

READ: Latin Resources identifies high-grade lithium at newly acquired Geminis Mine

The successful development of the lithium carbonate technology would then enable Latin to provide the full value chain of processing hard rock to spodumene concentrate to lithium carbonate for the expanding global electric battery market.

The strategy moving forward is now to produce a maiden JORC resource, to run in parallel with the design and permitting of a spodumene plant to add to an existing mining plant operation in San Luis.

Lithium extraction technology

The UNCuyo researchers discovered and developed the technology as an alternative to the current method of lithium extraction.

The rock is crushed and, through chemical treatments, the lithium is recovered in the form of salts.

The method is environmentally friendly, and it leaves no environmental legacies which other procedures do that are currently being used for lithium carbonate recovery.

Dr Mario Rodriguez, researcher, commented: “It is an alternative process that lowers the costs and makes intensive use of the mineral besides lithium; several commercially important products are also obtained through the process." 

Proving the technology

Pursuant to the agreement, Latin will support the development of the technology through the financing and scaling up of the technology.

The first stage of funding to be provided by Latin will enable UnCuyo to build a lab scale pilot plant to test the technology within their Mendoza campus.

The second stage funding will then allow UnCuyo to build a full-size pilot plant to test the technology at a commercial scale level.

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