Lithium Universe Ltd

Lithium Universe Ltd Completion of Location Study for Lithium Carbonate Refinery

Melbourne, Australia (ABN Newswire) - Lithium Universe Ltd (ASX:LU7) is pleased to announce that the Company has completed a location study for the optimal site selection for the Company's proposed 16,000 ton per annum battery-grade lithium carbonate refinery, which is an integral part of the Company's Quebec Lithium Processing Hub (QLPH). Hatch Ltd was appointed as the engineering firm responsible for conducting a comprehensive engineering study for the design of a versatile lithium refinery in Canada.

The location study involved an evaluation of various potential locations, with more than 20 municipalities contacted, and relied on recent site location benchmarks from both 2021 and 2023. The final assessment considered four potential locations in the Quebec region (refer to Figure 1*):

1. The area around the Mirage Outfitter, is located on Trans Taiga Highway in James Bay.

2. Areas outside Montreal, including Becancour, Beauharnois, Sorel-Tracy, and Deschambault.

3. Established mining communities such as Rouyn-Noranda and Amos.

4. Industrial area in Saguenay/Alma.

The selection criteria for the site were based on the following key factors:

1. Availability of flat land.

2. Logistics capabilities, including access to rail, road, and port facilities.

3. Labor availability for construction, operation, and maintenance.

4. Consideration of First Nations' interests.

5. Availability of essential services such as natural gas, high-voltage electricity, and water.

6. Constructability, considering factors like wetlands and soil capacity.

7. Cost considerations for construction, operation, and maintenance.

8. Waste management, including handling of solid and liquid waste.

According to the location study, natural gas supply is accessible in Areas 2, 3, and 4, but not in Area 1. Railway access is available in Areas 2, 3, and 4, but not in Area 1. High-voltage electricity is accessible in all four areas.

Owing to its remote location, construction and operation costs were noted as significantly higher in Mirage (Area 1) compared to the other three areas. Additionally, the services and logistics in the Mirage area pose challenges for establishing a downstream chemical conversion facility. Due to the logistical advantage of having access to port infrastructure, Areas 2 and Area 4 were then shortlisted. Based on the location study, Lithium Universe has opted to concentrate on the four potential sites in Area 2, situated along the river between Quebec City and Montreal. The Company has initiated discussions with the Societe du parc industriel et portuaire de Becancour (SPIPB) concerning the Becancour Industrial Park. The summarized location analysis is provided in the Table 1* below.

Chairman of Lithium Universe, Mr Iggy Tan said: "The comprehensive location study carried out by Hatch for our battery-grade lithium carbonate refinery has guided our decision-making process, leading us to focus on a suitable location. Establishing a sophisticated chemical refinery in the James Bay region is not viable.

However, setting up a concentrator near an ore body is feasible. We can transport the Spodumene concentrate to a regional facility, such as the Becancour Industrial Park, where it can be converted into battery-grade lithium carbonate. Our team has initiated talks with the park authorities to explore potential site options".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/R5U17RT8



About Lithium Universe Ltd:

Lithium Universe Ltd (ASX:LU7), headed by industry trail blazer, Iggy Tan, and the Lithium Galaxy team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



Source:
Lithium Universe Ltd



Contact:
Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com

Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com

News Provided by ABN Newswire via QuoteMedia

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