Euro Manganese signs on US chemical firm as offtake partner
This represents its second offtake deal in the span of a week for the sale of high-purity manganese metal.
Volt Lithium (TSXV: VLT) said on Monday it has begun testing its first field unit in the Permian Basin of Texas.
The unit will be capable of processing over 200,000 liters (1,250 barrels) of oilfield brine per day, representing a twofold increase from Volt’s previous processing capacity of 96,000 liters (600 barrels), the company said.
The field unit is expected to produce battery-grade lithium carbonate and lithium hydroxide monohydrate.
“The introduction of this initial field unit marks the achievement of another critical milestone in our strategy to become one of North America’s first commercial producers of lithium from oilfield brine,” Volt CEO Alex Wylie said in a news release.
“Volt has reached a critical inflection point with this achievement and is well-positioned to commence direct lithium extraction (DLE) operations in the field during Q3 2024, which aligns with our previous guidance.”
Volt’s DLE approach involves a two-stage process. The first focuses on removing contaminants from the brine before extraction.
In the second stage, the breakthrough in their technology came with the development of specialized ion exchange beads, the company said.
“Unlike traditional beads, their innovative creation boasted a size of five microns and an impressive 800 times the surface area of other industry standard beads, enhancing their extraction efficiency,” Wylie told The Northern Miner in 2023.
This advancement, he said, allowed the team to consistently extract lithium from brines during various testing stages, including successful pilot projects.
Volt shares rose 5.7% in Toronto on Monday morning. The company’s market capitalization is C$63.1 million ($46.8 million).
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