Great Southern Copper expands into lithium in Chile
The UK-based mineral exploration company has secured the Monti lithium project, in the Salar de Atacama salt flat, for $2.26 million.
The UK-based mineral exploration company has secured the Monti lithium project, in the Salar de Atacama salt flat, for $2.26 million.
While its lithium activities are at an early stage, production of the metal at scale would be a big business even for a company of Exxon’s size.
“Lithium companies right now are very expensive. We can believe we can find much cheaper ways to get it done," CEO Jakob Stausholm said.
Results include an initial lithium recovery of at least 94%.
The mining industry is working to boost freshwater recycling while also developing direct lithium extraction.
Shares surged by 15% after the company announced that it is reviewing a number of strategic approaches, marking the latest sign of rampant dealmaking in the sector.
Due to competition, winning bids often end up being over 1,000 times the starting price.
Spodumene mineral is the major source of high-purity lithium.
The agreement gives LithiumBank a full licence to use a group of continuous ion-exchange technologies in Alberta and Saskatchewan.
A new study estimates that the McDermitt Caldera hosts claystones containing 20 million to 40 million metric tons of lithium.