Name of the Project
Karibib lithium project – Phase 1.

Location
The mine will be located in Namibia, and the chemical conversion plant in Abu Dhabi, in the United Arab Emirates.

Project Owner/s
Lepidico.

Project Description
Karibib has ore reserves estimated at 9.4-million tonnes at 0.43% lithium oxide, 278 parts per million caesium sulphate, 2% potassium and 0.21% rubidium. The project involves the development of a vertically integrated mine and chemical conversion plant, with a production life of 19 years.

Lepidolite concentrate will be produced and shipped from Namibia to a chemical conversion plant at the Khalifa Economic Free Trade Zone industrial park, in Abu Dhabi.

The project envisages lithium hydroxide production of about 4 350 t/y, after ramp-up. Total rubidium sulphate production is estimated at 1 400 t/y, caesium sulphate production (salt basis) at 235 t/y and sulphate of potash production of 6 900 t/y.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The Karibib operations have an after-tax net present value (NPV), at an 8% discount rate, of $100-million and an internal rate of return (IRR) of 27%. The chemical plant has an after-tax NPV, at an 8% discount rate, of $357-million and an IRR of 24%. The project has a payback of less than three years.

Capital Expenditure
Phase 1 preproduction capital is estimated at $266-million.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Lepidico, tel + 61 8 9363 7800 or email info@lepidico.com.