Project developer Infinity Lithium, formerly Plymouth Minerals, is scouting for a strategic partner for its lithium project in Spain, or to enter into a corporate transaction that “builds shareholder value”, MD and CEO Ryan Parkin said on Monday.
In a shareholder email, he said the ASX-listed company was nearing the completion of a scoping study for lithium hydroxide at San Jose, which would assist in determining the progression of the feasibility study to either a lithium carbonate or hydroxide battery chemical product.
The San Jose project has the potential to be a fully integrated lithium hydroxide production project and hosts the second-largest lithium Joint Ore Reserve Committee-compliant resource in Europe.
Meanwhile, Parkin said that although San Jose was Infinity’s flagship project and focus, potash prices had risen sharply in the past year, benefiting its Banio potash project, in Gabon. The asset, which has been on care and maintenance since 2017, has an inferred mineral resource estimate of 1.67-billion tonnes at an overall grade of 16.1% potassium chloride (KCI).
Banio is located about 70 km from Kore Potash’s Kola project, which has a resource of 484-million tonnes of sylvanite at 54.7% KCI and more than five-billion tonnes of carnallitite at 19% KCI.