Column: Electric dreams turn into a nightmare for battery metals
A sector that was once racing to build new supply has been closing mines and deferring projects as low prices bite into the cost curve.
Pure Energy Minerals (TSXV: PE) announced Tuesday that Schlumberger New Energy (SNE) has received approval from the Bureau of Land Management (BLM) for a Plan of Operations covering the construction and operation of a pilot plant at Pure Energy’s Clayton Valley, Nevada, lithium brine project.
Schlumberger, Pure Energy’s partner and operator of the Clayton Valley project, has also received permit approval for the associated reclamation plan from the Nevada Division of Environmental Protection, Bureau of Mining Regulation and Reclamation.
The Vancouver-based miner, together with SNE, is exploring and developing the 9,450-hectare Clayton Valley project, the largest mineral land holdings in the area, which adjoins and surrounds on three sides the Silver Peak lithium brine mine operated by Albemarle.
The 9,450-hectare Clayton Valley project is the largest mineral land holdings in the area, adjoining and surrounding the Silver Peak lithium brine mine operated by Albemarle
Construction and operation of the pilot plant are planned at the Clayton Valley property, located 40 miles southwest of Tonopah in Esmeralda County, Nevada, as approved by the BLM and Nevada authorities.
In March, SNE announced its plans to develop a lithium extraction pilot plant at the Clayton Valley Project through its wholly-owned subsidiary, NeoLith Energy.
The BLM approved the Plan of Operations after completion of the required engineering design, environmental studies and public comment period. Additional permit applications are in process with NDEP.
“Pure Energy is excited that this important step towards development of the Clayton Valley Project has been achieved,” Pure Energy director Mary Little said in a media statement. “We look forward to advancing the Clayton Valley Project with Schlumberger New Energy.”
SNE is developing a lithium extraction pilot plant for the project, which uses a differentiated direct lithium extraction process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks.
Pure Energy Minerals stock surged over 11% in Toronto on the news. The company has a $43 million market capitalization.
