Name of the Project
San José lithium hydroxide project.

Location
The Extremadura region of western Spain.

Project Owner/s
Tecnología Extremeña Del Lito, a 75:25 joint venture (JV) between Infinity Lithium Corporation and Valoriza Mineria, a subsidiary of Sacyr. Infinity maintains the right to progress to 100% project ownership, as a result of the negotiated JV agreement.

Project Description
A prefeasibility study (PFS) has confirmed that the project offers an extended production life with reduced social, environmental and visual impacts.

It has indicated resources of 59-million tonnes and inferred resources of 52.2-million tonnes.

The PFS proposes 30 years of lithium hydroxide production from 19 years of mining.

The project aims to produce about 15 000 t/y in the first ten years of operation.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 10% discount rate, of $860-million and an internal rate of return of 42.3%, with a capital payback from the start of production of 2.5 years.

Capital Expenditure
Preproduction capital expenditure is estimated at $267.9-million.

Planned Start/End Date
Not stated.

Latest Developments
Lithium developer Infinity Lithium Corporation has received firm commitments for a A$15-million capital raise to advance its San Jóse lithium project.

“Infinity is very pleased to have received such strong support from new and existing investors as the company advances the San Jóse lithium project . . . to a final investment decision,” Infinity MD and CEO Ryan Parkin has said.

The funds raised will be applied to accelerate the Class 3 feasibility study work due for completion later in 2021.

The feasibility study is scheduled to be released in the fourth quarter of 2021.

More than 79.4-million shares will be placed at 19c each under the company’s existing placement capacity, meaning shareholder approval would not be required.

Key Contracts, Suppliers and Consultants
Snowden Mining Consultants, Cube Consulting, Wave International, Knight Piésold, IMO Project Services, Mining Sense, Valoriza Mineria and AGQ Laboratories (scoping study); Wave International (process plant design and cost estimates; Snowden Mining Consultants (geology and mineral resource estimate, and mining ore reserve); Nagrom Laboratories (beneficiation laboratory works); ALS Laboratories (hydromet laboratory testworks); Valoriza Minera (environment, community and health, safety and environment); Land and Marine Geological Services (tailings – waste dump design and stability); Fastmarkets MD (markets); and Mining Sense (logistics).

Contact Details for Project Information
Infinity-Lithium, tel +34 927 208 134 or email admin@extremaduramining.com.