Lithium Ionic sells Salinas group of lithium property in Brazil
TSX-V-listed Lithium Ionic and two of its subsidiaries have entered into a definitive agreement to sell the Salinas group of lithium properties, which includes the Baixa Grande lithium resources in Brazil's Lithium Valley, in Minas Gerais.
The acquiring party, PLS Brazil Mineração, a subsidiary of ASX-listed PLS Group, has agreed to a purchase price of $37.5-million in cash.
Lithium Ionic will, however, through its wholly-owned subsidiary Neolit, retain a 2% royalty on future spodumene sales from Baixa Grande.
PLS aims to integrate the Baixa Grande project into its adjacent Colina project in the country.
Lithium Ionic CEO Blake Hylands says Salinas demonstrates the value the Lithium Ionic team has created through disciplined exploration.
"We entered the district in early 2023 and, in under two years, advanced it from first drill holes to a spodumene mineral resource. This transaction crystallizes that value for shareholders without dilution, at a constructive point in the lithium cycle, and the royalty keeps shareholders exposed to Baixa Grande’s potential future development under PLS, one of the largest hard-rock lithium operators in the world."
Hylands adds that PLS is a natural fit as the acquirer of Baixa Grande given its neighbouring Colina project.
"We are pleased to see it pass to a leading lithium producer rapidly growing its presence in the Lithium Valley, and with a strengthened balance sheet, we are squarely focused on advancing Bandeira toward a construction decision and becoming a near-term, low-cost lithium producer," he concludes.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Latest Multimedia
Latest News
Showroom
Energy and Densification Systems (EDS) has developed equipment for crushing, milling, blending and densifying products. Based on its globally...
VISIT SHOWROOM
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
