Name of the Project
Karibib lithium project.

Location
Namibia.

Project Owner/s
Lepidico.

Project Description
A definitive feasibility study (DFS) has revealed attractive Phase 1 economics for the Karibib project. The project has been sized for attractive financial returns at moderate production levels, with a 460 times scale-up from continuous pilot plant capacity.

Karibib has 6.7-million tonnes of ore reserves grading 0.46% lithium oxide, 2.26% rubidium and 320 parts per million caesium, a 60% conversion from mineral resources of 11.24-million tonnes, which highlights the potential for further ore reserve expansion.

The DFS is based on an integrated mine, concentrator and chemical plant.

Phase 1 envisages a modest-scale commercial L-Max plant, processing a lithium-mica concentrate feed at 6.9 t/h to produce about 4 900 t/y of nominal battery-grade lithium hydroxide monohydrate and a suite of high-value and bulk by-products, over 14 years.

Total production over the life-of-mine is estimated at 773 000 t.

Converting other products to lithium carbonate equivalent provides implied total production of more than 7 000 t/y lithium carbonate equivalent.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $221-million and an internal rate of return of 31% ungeared, with a payback from the start of production of 37 months.

Capital Expenditure
Preproduction capital for the mine, concentrator and chemical plant is estimated at $139-million.

Planned Start/End Date
A final development decision is expected by May 2021.

Latest Developments
Karibib is fully permitted for the redevelopment of two mines feeding lithium mica to a central mineral concentrator while an environmental- and social-impact assessment is being conducted, which was scheduled for completion in July.

Several workstreams for the Phase 1 project will now progress.

Key Contracts and Suppliers
Strategic Metallurgy; Lycopodium Minerals; Australian Mine Design and Development; Knight Piésold Consulting; Project Definition; Chris Movirongo Investment; Snowden Mining Consultants; BMI; Pells Sullivan Meynick; Antonio Mota; BT Connect; TAK Industrial Mineral Consultancy; BG &E; GHD LLC; Addiza Power Consultants; Risk Based Solutions; Lanasera; Sustainable Mining Strategies; Formate Brines; AdvanSci; University of Waterloo; Ontario; Radiation Advice and Solutions; SGS; ALS; End to End Visuals; GiG Agri-Advice; Twahangana HR Consulting; Environmental Compliance Consultancy; and Geoscientific Mineral Resources.

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