VANCOUVER (miningweekly.com) – Quebec-based lithium/tantalum project developer Critical Elements has appointed former Rockwood Lithium senior executive Dr Steffen Haber as its president, effective January 1, 2017.

Haber is a well-known figure in the lithium industry, having been CEO and president of Rockwood Lithium up until it was acquired by Albemarle for $6.2-billion in January 2015.

"The addition of a member with extensive lithium experience and an exceptional background in the industry will provide the team with important knowledge support. Dr Haber's solid experience and success in leading and developing the largest lithium company as president of Rockwood Lithium will be a very valuable asset in the next phase of our corporation's development,” said CEO Jean-Sébastien Lavallée on Tuesday.

Critical Elements also announced the appointment of Lavallée as chairperson of the corporation’s board.

POSITIVE METRICS
The company is engaged in developing its flagship Rose project, in Quebec.

A 2011 financial analysis based on price forecasts of $260/kg for tantalum pentoxide (Ta₂O₅) contained in a tantalite concentrate and $6 000/t for lithium carbonate (Li₂CO₃) showed an estimated after-tax internal rate of return (IRR) of 25% for the Rose project, with an estimated net present value (NPV) of C$279-million, at an 8% discount rate.

The payback period is estimated at about four years. The pre-tax IRR is estimated at 33% and the NPV at $488-million, at a discount rate of 8%.

The operation is expected to produce 26 606 t/y of high-purity (99.9% battery grade) Li₂CO₃ and 206 670 lb/y of Ta₂O₅ over a 17-year mine life.

The project hosts a Canadian National Instrument 43-101-compliant indicated resource of 26.5-million tonnes of 1.3% lithium oxide (Li₂O) equivalent or 0.98% Li₂O and 163 parts per million (ppm) Ta₂O₅, as well as an inferred resource of 10.7-million tonnes of 1.14% Li₂O equivalent or 0.86% Li₂O and 145 ppm Ta₂O₅.