Rio Tinto names Shell’s Katie Jackson as new copper chief
Jackson, who is the current president of National Grid Ventures, an energy group, joins Rio Tinto on September 1.
Grounded Lithium (TSXV: GRD) reports its preliminary economic assessment (PEA) for the Kindersley lithium project demonstrates a strong economic case for producing battery-grade lithium hydroxide monohydrate (LHM), with potential for future phases.
Phase one of the project in Saskatchewan includes an after-tax internal rate of return (IRR) of 48.5% and an after-tax net present value (NPV) of $1.0 billion at an 8% discount rate. The initial capital investment for the project is estimated at $335 million, with a payback period of 3.7 years.
The company says Kindersley stands out with a lower capital intensity compared to other North American brine-based lithium projects, with an initial capital intensity of $30,500 per tonne of LHM. The projected all-in operating costs are $3,899 per tonne of LHM, amounting to an annual expenditure of $42.9 million.
The PEA is based on an annual production of 11,000 tonnes of LHM, and assumes a sales price of $25,000 per tonne.
Grounded Lithium president and CEO Gregg Smith said, “The independent economic results of phase one of the KLP compare favourably within the lithium mining industry from a capex and opex perspective, and we believe the results of the PEA bode well for critical future steps.”
