Name of the Project
Colina lithium project.

Location
Minas Gerais, Brazil.

Project Owner/s
Latin Resources.

Project Description
A preliminary economic assessment (PEA) has shown a low-capital, two-phased operation, which delivers high-quality 5.5% lithium oxide spodumene concentrate (SC5.5) and a 3% lithium oxide (SC3) spodumene tails concentrate product.

Proposed is the development of a 3.6-million-tonne-a-year standalone mining and processing operation with an initial 11-year life-of-mine (LoM). Average LoM production is estimated at 405 000 t/y SC5.5 and 123 000 t/y SC3.

Phase 2 will increase LoM production to 525 000 t/y of SC5.5 and 159 000 t/y of SC3.

A Phase 3 mine life extension and expansion will be evaluated in the definitive feasibility study (DFS).

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated after-tax net present value, at an 8% discount rate, of A$3.6-billion and an internal rate of return of 132%, with a payback of seven months.

Capital Expenditure
Phase 1 capital expenditure (capex) is estimated at $253-million.

Phase 2 capex of $55-million will be fully funded by Phase 1 production.

Planned Start/End Date
Phase 1 production is expected to start in 2026 and Phase 2 in 2029.

Latest Developments
The DFS is expected to be completed in mid-2024.

Key Contracts, Suppliers and Consultants
SGS Geological Services Group Canada, SGS Bateman Engineering Services and MinSol Engineering (PEA).

Contact Details for Project Information
Latin Resources, tel +61 8 6117 4798 or email info@latinresources.com.au.