PERTH (miningweekly.com) – ASX-listed juniors Loyal Lithium and Winsome Resources will collaborate on activities at their James Bay lithium projects, in Canada.
The two companies have announced a memorandum of understanding (MoU) to facilitate collaboration to reduce the environmental and local footprint of exploration and mining activities in the James Bay region.
Loyal said in a statement that the primary objective of the MoU was to harness exploration synergies, streamline government approvals through coordinated strategies, and facilitate the development of lithium mines within Quebec's James Bay region. Notably, both lithium projects are situated within 14 km of each other, offering significant opportunities for synergy and efficiency.
“This collaboration MoU with Winsome Resources simply formalises the cooperative spirit within the mining industry. As Loyal progresses with more advanced exploration at the Trieste lithium project our commitment to minimise environment and stakeholder impacts is critical,” said Loyal MD Adam Ritchie.
“With many alternative lithium sources available globally, collaboration is essential to ensure a cost-effective domestic lithium supply is realised. Although early days, discoveries to date indicate that the Trieste greenstone region could play an important role in the emerging North America lithium supply chain.”
Winsome MD Chris Evans said the MoU reinforced an already strong relationship with Loyal.
“It also marks a formal step forward in meeting Canadian mining regulations requiring companies within a region to collaborate where appropriate to reduce environmental and social impacts.
“Initial opportunities already identified include beneficial exploration synergies, teaming up on technical engineering, environmental baseline studies, as well as permitting pathway considerations which minimise local and regional disturbances,” said Evans.
“Winsome and Loyal are also committed to collaboratively implementing stakeholder engagement and government relations activities where appropriate.”
The MoU will apply for a minimum of 18 months with the option to extend through mutual agreement.