Changes afoot as Lake moves to cement North American position
PERTH (miningweekly.com) – ASX-listed Lake Resources has appointed chairperson Stu Crow as executive chairperson to oversee the company’s transition to serve North American and Asian supply chains, with MD Steve Promnitz to step aside.
“Lake’s aspirational target is to reach capacity of 100 000 t/y by 2030 which will underpin Lake’s ambition to become a leading global producer of sustainable high purity lithium,” Crow said on Monday.
“We are now establishing a North American presence to serve our offtake customers, continue to work with our US-based technology partner, and engage capital markets.
“We are aligning project delivery, extraction technology, and operations. We are interviewing candidates with exceptional experience for the CEO and MD role, and also candidates for the board to reflect growth of the company in the US markets,” said Crow.
Lake Resources recently appointed finance institutions Citi and JP Morgan as joint coordinators for its Kachi lithium project.
A previously completed updated prefeasibility study estimated that the Kachi project could produce 25 500 t/y of lithium carbonate over a mine life of 25 years, with capital costs estimated at $540-million.
The company said earlier this year that the definitive feasibility study (DFS) would consider a production case of 50 000 t/y, given the increased demand from potential offtakers. The DFS is due for completion in mid-2022.
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