
April 23, 2023
Lithium Power International Limited (ASX: LPI) (“LPI” or the “Company”) is pleased to provide updated comments on the recent announcement of the new National Lithium Policy in Chile, and the potential impact it will have on the company’s Maricunga lithium brine project.
On the evening of 20 April 2023, Chilean President Gabriel Boric announced the long awaited National Lithium Policy (“NLP” or the “Policy”). The NLP outlines the plans for the future implementation of lithium exploration and exploitation policies that are intended to bring Chile back to the forefront of global lithium production.
The NLP is different from the position of previous administrations, with this new policy being the result of a consultation process with a wide variety of stakeholders nationally and internationally. It has also taken into consideration the objectives of the Chilean State, including its role to participate in the efficient and rapid development of the lithium industry. This is of strategic concern both to Chile and the world as society moves towards “electrification.” LPI and its subsidiary Minera Salar Blanco have been in constant dialogue with the Chilean government and private institutions that have participated in the development of the NLP.
Lithium Power International’s Director and MSB’s Chairman, Russell Barwick, commented:
“We are pleased that the National Lithium Policy, as presented last week in Santiago, is very much along the lines of what was discussed and expected in our various discussions with Chilean authorities. While a central part of the strategy focuses on current operations and future exploitation of the Atacama Salar, there is also an outline on the future development of projects in other Chilean Salars. This is the case with our flagship Maricunga Project, which is the largest, most advanced and fully permitted pre-construction lithium project in Chile.”
Even though the Policy has primarily concentrated its focus on the huge lithium resource within the Atacama salar, LPI wishes to clarify some core elements of the new Policy as it relates to the Company’s Maricunga Project and assets:
- The Maricunga Stage One project is fully permitted for construction. Its Environmental Permit (“EIA”) was approved in 2020 by the “Servicio de Evaluación Ambiental” (“SEA”), which was explicitly mentioned by President Boric as the government agency in charge of environmental aspects of any future project in Chile. LPI’s EIA permit was ratified by the Committee of Ministers of the Chilean Government in 2022, rejecting all the objections submitted by third parties. It also obtained the necessary Chilean Nuclear Energy Commission (“CCHEN”) permit in 2018 that allows LPI to export lithium products from Chile.
- With regards to the inclusion of communities and the environmental and technical aspects mentioned on the new Policy, LPI’s Maricunga Stage One project development serves as an example by incorporating all social and community agreements as an integral part of its environmental permit. This includes Maricunga being one of the few projects in Chile with a comprehensive indigenous consultation process executed by the Government under the ILO Convention 169, defining a new standard of social relationships. The Company is proud of these achievements in promoting community participation over the long-term.
- The Maricunga project has established broad ranging the sustainable development initiatives, which sets a unique and complete ESG profile standard for the future of the project. LPI’s corporate vision aims to make the Maricunga Project one of the first lithium operations globally to achieve carbon neutrality.
- The Company confirms that its wholly owned subsidiary Minera Salar Blanco (“MSB”), is the sole owner of the property and concessions of both Stage One and Stage Two of the Maricunga Project. There are no current legal processes challenging this aspect of the project. This is a fundamental difference from the current operations in the Atacama Salar, where state-owned company CORFO is the owner of the properties and concessions. CORFO then leases these concessions to the current operators in Atacama for a set period of time. It is also important to note that the mining concessions that serve as the base for the Maricunga Stage One project, were given by the Chilean Government, before 1979 when only then did lithium become defined as a strategic material.
- The Maricunga Stage One concessions, because of their pre-1979 “Old Code” status, do not require a CEOL (Special Lithium Operation Contract) for exploitation. The Stage One project is shovel ready, and currently awaiting the closing of its financing process to begin construction.
- It is important also to clarify that a CEOL does not provide any claim to ownership over the area included under the CEOL contract. CEOL’s explicitly establish, that holders of the CEOL have no rights to enter the area, or execute any activity, (exploration or exploitation ), without a previous negotiation with the owners of the mining concessions.
- LPI embraces the possibilities for future public-private alliances as declared by the NLP, for the development of Stage Two for the Maricunga project, which involve its post-1979 or “New Code” concessions. The Company will continue to work closely with the Chilean Government to transform the Maricunga Stage Two project into the first example of a public-private alliance under the new parameters established by the new Policy.
- The Company acknowledges the existence of the Australia–Chile Free Trade Agreement (“FTA”), which came into force in 2009, being the first FTA between Australia and a Latin American country, as well as the Trans-Pacific Partnership (“TPP”) recently ratified by Australia and Chile. Both international arrangements will positively support these public- private alliances and also incorporate clear mechanisms for investment protection under international law.
- The new Policy does not constitute a nationalisation of the lithium industry in Chile. Its objective, as clarified by the Mining Minister, is to set the conditions and parameters for the country to have a more active involvement and higher financial returns in a strategic industry, particularly where those lithium resources are located on concessions already owned by the Chilean State on the Atacama Salar. The NLP also seeks to accelerate the development of new projects in the country.
- LPI is currently evaluating a number of financing options for the Maricunga Stage One project, ranging from strategic equity investment from potential offtake partners to debt/equity financing alternatives. The announcement and future implementation of the NLP is timely to provide the clarity and certainty required by financiers/investors on the parameters under which the Maricunga project will be developed.
Lithium Power International’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented:
“We are very pleased to see that our hard work over the last seven years of advancing Maricunga Stage One project have been reflected in a development that closely mirrors the objectives of the newly announced National Lithium Policy. Technical advancement and innovation, environmental and social responsibility of the highest standard, and landmark community agreements that provide the community the opportunity to share in the exciting future of the growing lithium industry, are all in line with the objectives of the Strategy. We embrace the objective of Chile’s current administration to promote public-private associations as the path forward for the development of the Maricunga Stage Two project.
Since the announcement of the Strategy, there have been a number of differing opinions as to the effectiveness, practicality, and legality of the National Lithium Strategy and its objectives. LPI wants to clarify, that it believes the Policy is not a “one size-fits all” proposed legislation, and there are several specific elements that differentiate LPI’s Maricunga Project from the rest of the existing operations or future lithium projects in Chile. Rather than focus on what the legislation means for the future of the Chilean lithium industry, our focus is on what it means for our Maricunga lithium project and how it will transform the Chilean lithium industry through its development. At LPI, we welcome President Boric’s National Lithium Strategy and its objective to positively transform the Chilean lithium industry. Moreover, we are pleased to say we believe this strategy not only benefits LPI’s Maricunga Project but has the potential to accelerate the development of our Stage Two project. As such, we look forward to continuing our work with the Chilean Government to advance Maricunga.”
Click here for the full ASX Release
This article includes content from Lithium Power International, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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04 June
Pursuit Dispatchs 99.5% Lithium Carbonate Samples to Potential Strategic Partners as Feasibility Studies Progress
Pursuit Minerals Ltd (ASX: PUR) (“PUR”, “Pursuit” or the “Company”) is pleased to announce that high- purity lithium carbonate samples have been dispatched to multiple parties as part of its engagement with prospective offtake and strategic partners. The samples were produced from the Company’s 250tpa Pilot Plant in Salta, Argentina, using synthetic brine chemically identical to that of the Rio Grande Sur Lithium Project.
HIGHLIGHTS
- Final product assays confirm 99.5% lithium carbonate purity, upgraded from pilot output via bench scale processing.
- Certified samples dispatched to multiple potential offtake and strategic partners for qualification.
- Feasibility study progressing for low cost, 5,000tpa operation at Rio Grande Sur.
- Ongoing small batch lithium carbonate production to support offtake qualification while preserving capital discipline in current market conditions.
- Pursuit continues to advance its dual-pronged growth strategy progressing Rio Grande Sur while accelerating the evaluation of strategic gold, silver, and copper acquisitions in Argentina.
Figure 1 – Pursuit’s 99.5% Li₂CO₃ Sample Ready for Dispatch to Potential Offtake Partners
In relation to the dispatch of samples, Pursuit Managing Director & CEO, Aaron Revelle, said:
“Achieving 99.5% lithium carbonate purity is a major technical milestone for Pursuit and a clear demonstration of the capability embedded within our flowsheet, team, and pilot plant infrastructure. It not only validates the compatibility of our process design with Rio Grande Sur brines but also confirms our ability to deliver a consistently high-quality product suited to a wide range of industrial and energy storage applications. Dispatching these samples to potential offtake partners is a critical first step in our commercialisation pathway, enabling product qualification and accelerating engagement with strategic customers in tough market conditions. As we transition into the next phase of development, our focus is firmly on advancing feasibility for our 5,000tpa operation and securing long-term partnerships that will underpin the future production and growth of the Rio Grande Sur Project.”
Initial pilot production at Pursuit’s 250tpa Pilot Plant in Salta successfully produced 15 kilograms of lithium carbonate at 98.9% purity, validating both the compatibility of the Rio Grande Sur brine and the efficiency of the Company’s conventional processing flowsheet. To enhance product quality and simulate potential refinement steps at commercial scale, a portion of this material was further treated at bench scale using fractional crystallisation (FX) and ion exchange (IX) techniques. These post processing steps upgraded the product to 99.5% purity, meeting established benchmarks for technical-grade lithium carbonate.
The final product assays confirm not only the effectiveness of Pursuit’s downstream purification strategy but also the scalability and robustness of its broader flowsheet. This achievement represents a critical milestone on the path to commercial readiness supporting key feasibility assumptions, validating end product quality, and enabling active engagement with prospective offtake partners.
Pursuit is well positioned to undertake additional small-batch production as required to meet partner qualification needs and advance strategic discussions. Furthermore, it demonstrates Pursuit’s capability to produce high-purity lithium carbonate suitable for industrial use, with potential to meet battery-grade specifications through additional refinement.
Click here for the full ASX Release
This article includes content from Pursuit Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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02 June
Ore Reserve Quadruples for Rhyolite Ridge Project; Reaffirms Robust Project Economics
Ioneer Ltd (ASX: INR, Nasdaq: IONR) (Ioneer) is pleased to announce a 308% upgrade to the Ore Reserve estimate for its 100%-owned Rhyolite Ridge Lithium-Boron Project (‘Rhyolite Ridge’ or the ‘Project’) in Nevada, USA, alongside updated Project economics.
- Rhyolite Ridge Ore Reserve more than quadrupled from 60 million tonnes in 2020 to 247 million tonnes, delivering a mine life of 95 years
- Ore Reserve now contains a total of 1.92 Mt of lithium carbonate equivalent and 7.68 Mt of boric acid equivalent
- Underpinning plans for a large, long-life, low-cost expandable operation, producing lithium carbonate, boric acid and then battery-grade lithium hydroxide
- Stable co-product - boric acid accounts for an average 25% of annual revenue in the first 25 years; helping ensure positive EBITDA at low lithium prices and EBITDA margin of 65.7% based on average production over first 25 years
- All-in sustaining cash cost of US$5,745 per metric tonne lithium carbonate equivalent places the Rhyolite Ridge Project in the bottom of the global lithium cost curve
- Compelling Project economics with an after-tax NPV of US$1.367 billion, and an unlevered, after-tax internal rate of return (IRR) of 14.5%
The Ore Reserve has increased by 186.6 million tonnes (Mt) and approximately 48% of the Mineral Resource has been converted into Reserve, now estimated at:
- 246.6 Mt at 1,464 ppm lithium and 5,444 ppm boron
- Containing 1.92 Mt of Lithium Carbonate Equivalent (LCE) and 7.68 Mt of Boric Acid Equivalent (BAE)
“Today’s updated Reserve and Mine Plan reinforces the importance of Rhyolite Ridge’s remarkable mineralogy. Our Ore Reserve estimate of 247 Mt containing a total of 1.92 Mt LCE and 7.68 Mt BAE make it the largest lithium-boron Reserve in the world,” said Bernard Rowe, Managing Director, Ioneer. “It allows Ioneer to match prevailing market conditions and blend or prioritise ore to produce a valuable boric acid co- product, whose market is uncorrelated with the Project’s primary lithium product. No other lithium project offers this level of flexibility and economic advantage. In periods of low cycle lithium pricing, like today, we plan to prioritize the high-boron ore production to optimize the relative proportion of total revenue derived from boric acid.”
By prioritising High-Boron (Hi-B) ore in the first 25 years of production, the Project is poised to produce an average of ~19,200 tonnes per annum (tpa) of LCE, and 116,400 tpa of boric acid (see Table 1).
The updated Ore Reserve estimate, 95-year mine plan for stage one operations, and Project economics reaffirms Rhyolite Ridge as a highly attractive global Project to produce lithium carbonate, lithium hydroxide and boric acid. The updated findings position Ioneer, on an LCE basis, in the lowest cost quartile for lithium production globally with an estimated all-in sustaining cash cost to produce battery grade lithium hydroxide of US$5,745 and a cash cost of C1 $3,858 per tonne net of expected boric acid revenue in the first 25 years.
The Project has a stable overall operating cost structure to produce lithium carbonate and battery grade lithium hydroxide due to the scale and reliability of its boric acid credit. Boron remains one of the most stable natural resource commodities over many decades.
Ioneer has refined Project plans over the past four years and updates now include an Association for the Advancement of Cost Engineering (AACE) Class 2 capital cost estimate (-10%, +15%) with approximately 70% of the Project’s engineering complete. As a result of this and other engineering work including RAM analysis and detailed engineering design, Ioneer has adopted a more conservative approach to plant availability, equipment downtime and maintenance strategies. While this approach reduces bottom line economics, the Company believes it is appropriate for a Project of this type and scale.
The Company now estimates total capital expenditure to complete the Project will be US$1,667.9 million, including a 10% contingency.
Click here for the full ASX Release
This article includes content from Ioneer Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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29 May
Lithium Africa: Searching for Low-cost, Marquee Hardrock in Africa
Lithium Africa is a next-generation exploration company purpose-built to seize the opportunities of the coming lithium supercycle. With a focus on early-stage land acquisition, rapid drilling, and a landmark joint venture with Ganfeng Lithium, the company delivers maximum exploration efficiency, capital leverage, and de-risked discovery potential at scale.
Lithium Africa’s mission is to discover, de-risk, and monetize Tier 1 hard rock lithium assets through data-driven targeting, aggressive fieldwork, and disciplined exit strategies. Its partnership with Ganfeng—one of the world’s leading lithium producers—anchors its strategy with industrial expertise and financial strength from the earliest phases of project development.
Lithium Africa is the first company to implement a systematic, multi-jurisdictional discovery strategy across the continent, combining world-class geology with capital discipline and strategic focus to unlock the next generation of globally significant lithium deposits.
Company Highlights
- Exploration-focused Model: Lithium Africa focuses purely on discovery and value creation, with no intention to develop or operate a mine
- Strategic 50/50 JV with Ganfeng Lithium: Doubles exploration spending and provides access to processing expertise and long-term downstream offtake partners.
- Pan-African Footprint: Over 8,000 sq km of tenure across Zimbabwe, Morocco, Mali, Côte d’Ivoire, Guinea, and others – enabling diversification in discovery strategy.
- Contrarian, Countercyclical M&A: Well-capitalized and positioned to roll up distressed lithium juniors during a downcycle
- Rapid Permitting & Scalability: Target jurisdictions offer 3- to 4-year discovery-to-mine timelines versus 10 to 15 years in North America.
- RTO & Listing Expected by August 2025: Tight structure, early institutional support and significant near-term drilling catalysts
This Lithium Africa profile is part of a paid investor education campaign.*
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29 May
Update to Tanbreez Scoping Study to Include Addendum to MRE
29 May
Mineral Resource Estimate Additional to 45MT Tanbreez
27 May
Lithium Africa
Investor Insight
Leveraging early-stage land acquisition, accelerated drilling and a strong strategic partnership, Lithium Africa delivers maximum exploration efficiency, capital leverage and de-risked lithium discovery upside at scale.
Overview
Lithium Africa is an exploration company purpose-built to capitalize on the next cycle of lithium demand. Its strategic mission is to discover, de-risk and monetize Tier 1 lithium assets through data-driven targeting, aggressive fieldwork and value-driven exits. The company's unique 50/50 joint venture with Ganfeng Lithium is the cornerstone of its strategy, providing both financial leverage and industrial alignment at the earliest stages of project development.
Africa remains largely underexplored for lithium despite sharing geological similarities with major hardrock lithium belts in Canada and Australia. Lithium Africa is the first company to systematically deploy a multi-jurisdictional discovery strategy across the continent – combining top-tier geology with capital efficiency and strategic clarity.
At the heart of Lithium Africa’s model is its joint venture with Ganfeng Lithium, one of the top two lithium chemical producers globally. The 50/50 JV, established in 2023, enables Lithium Africa to double its capital efficiency, with $1 raised equating to $2 spent on exploration. The partnership provides unmatched advantages: access to Ganfeng’s downstream processing know-how, established customer relationships with Tier 1 OEMs, and a long-term offtake framework that allows Lithium Africa to retain flexibility and optionality on any asset monetization.
Lithium Africa does not intend to develop or operate mines. Instead, the business model is designed around efficient land acquisition, aggressive de-risking via trenching, sampling, and early drilling, and ultimately monetizing high-value discoveries through royalties, sales or carried interests. In a down market, the company is actively pursuing counter-cyclical M&A opportunities to acquire stranded or undercapitalized lithium assets. With this strategy, Lithium Africa provides shareholders exposure to world-class discovery upside with significantly reduced financing risk.
Company Highlights
- Exploration-focused Model: Lithium Africa focuses purely on discovery and value creation, with no intention to develop or operate a mine
- Strategic 50/50 JV with Ganfeng Lithium: Doubles exploration spending and provides access to processing expertise and long-term downstream offtake partners.
- Pan-African Footprint: Over 8,000 sq km of tenure across Zimbabwe, Morocco, Mali, Côte d’Ivoire, Guinea, and others – enabling diversification in discovery strategy.
- Contrarian, Countercyclical M&A: Well-capitalized and positioned to roll up distressed lithium juniors during a downcycle
- Rapid Permitting & Scalability: Target jurisdictions offer 3- to 4-year discovery-to-mine timelines versus 10 to 15 years in North America.
- RTO & Listing Expected by August 2025: Tight structure, early institutional support and significant near-term drilling catalysts.
Key Projects
Zimbabwe
Birthday Gift Project (Flagship)
The Birthday Gift project is Lithium Africa’s flagship asset and highest-priority exploration target. Located along a >12 km pegmatite corridor, the project hosts three parallel, flat-lying spodumene-bearing pegmatites within metasediments. Surface trenching has returned multiple significant intercepts, including 100 m, 67 m, and 55 m widths with true thicknesses averaging ~35 m. Rock chip samples from fresh spodumene zones have returned assays as high as 5.25 percent lithium oxide. More than 3,000 geochemical samples have been collected, and a 1,500-meter RC drill program commenced in January 2025 to test a 1,300-meter strike length.
The pegmatites remain open at depth and along strike. SGS South Africa is performing ICP assay analysis, and environmental permitting and trenching on the western trend are ongoing.
The Birthday Gift asset has strong potential to support an inaugural resource estimate by late 2025.
West Africa
Torakoura in Bougouni District, Mali
Lithium Africa controls six highly prospective licenses in Mali, located within the prolific Bougouni Basin, home to Leo Lithium’s Goulamina project, one of the world’s largest spodumene deposits. The Torakoura permit is situated along the same structural corridors and granitic host rocks. Surface exploration has identified spodumene-bearing pegmatites, supported by strong lithium and pathfinder anomalies from historic soil sampling.
Initial drilling at Torakoura began in 2024 but paused for LIBS-to-ICP calibration. A new RC drilling campaign resumed in Q4 2024. These permits offer substantial scale and proximity advantages in a well-established lithium district with proven permitting and development pathways.
Adzopé & Regional Licenses, Côte d’Ivoire
In Côte d’Ivoire, Lithium Africa holds four early-stage but highly promising permits totaling 1,254 sq km. The Adzopé license has returned rock samples with lithium oxide values up to 0.98 percent. Field mapping and lithological sampling have been completed, and a 21,700-meter auger drilling program is planned to refine targets for follow-up RC and core drilling. The region is emerging as a new pegmatite belt in West Africa, and Lithium Africa has first-mover status in building a pipeline of discovery-stage projects.
Kobikoro Project, Guinea
The Kobikoro project in southeastern Guinea consists of four licenses covering 376 sq km in the Archean Kinema-Man domain. This district is part of the underexplored Kissidougou pegmatite belt. Historical stream sediment geochemistry conducted by BRGM highlights multiple anomalous trends in lithium, tantalum and niobium. The standout feature is a 20 km-long lithium-tantalum-niobium anomalous zone aligned with regional structures and underlain by fractionated granite intrusions.
Morocco
Bir El Mami
In 2024, Lithium Africa acquired a 585 sq km, district-scale land package in the Bir El Mami region of Morocco, located on the northern extension of the Tasiast greenstone belt. The project is notable for its spodumene-bearing pegmatites confirmed by surface rock samples, which include lithium values up to 862 parts per million (ppm), and historic soil anomalies up to 363 ppm. The region is emerging as a key lithium district given Morocco’s favorable trade agreements and a growing domestic EV battery manufacturing base. Lithium Africa is currently Morocco’s only major lithium concession holder, and early-stage target identification is underway as of Q1 2025. The company is well positioned to be Morocco’s lithium sector leader and consolidator.
Management Team
Tyron Breytenbach - CEO
Tyron Breytenbach is a former Detour Gold resource geologist and leading equity analyst at Stifel Canada and Cormark. He blends deep geology with institutional capital markets acumen.
Carl Esprey - Executive Chair
Carl Esprey is a former M&A analyst at BHP Billiton and fund manager at GLG Partners. He is the founder of several resource ventures and current CEO of Waraba Gold.
Coulibaly Mamadou - Executive Director
Coulibaly Mamadou is a geologist with 12 years’ experience in mineral exploration. Coulibaly started his career with Randgold, and has extensive knowledge of and experience with the West African Birimian geology.
Ben Gelber - VP Exploration
Ben Gelber is a former VP at Gold Line Resources and exploration manager at Barrick in Guyana. He has more than 19 years of lithium and gold exploration experience.
Dr. Jeroen van Duijvenbode - Development Geologist
With a PhD in geometallurgy, Jeroen van Duijvenbode is an expert in lithium pegmatite targeting and geochemical data interpretation.
Jamie Robinson - CFO
Jamie Robinson is a chartered accountant with extensive mining CFO experience across private and public markets. Prior to his stint in the mining sector, he worked with Deloitte in Vancouver, British Columbia.
Chris O’Connor - General Counsel
Chris is a lawyer with over 19 years of private practice and in-house experience, focused on capital markets, corporate finance and M&A transactions in emerging markets throughout Africa, Eastern Europe and the CIS.
Toluwalase Seriki - Non-Executive Director
Toluwalase Seriki is Ganfeng Lithium’s head of business development in Africa. He possesses a strong M&A and finance background.
Roy Zhang - Advisor
Roy Zhang has nearly 10 years of experience in investment, M&A and corporate development, and is experienced and knowledgeable in lithium trading through his role at Ganfeng.
Dr. Tom Benson - Advisor
Tom Benson is a Stanford PhD volcanologist who leads global exploration at Lithium Americas. He is a widely respected authority on caldera-related lithium resources across the industry.
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