San José ticks the PFS boxes for Infinity
PERTH (miningweekly.com) – A lithium hydroxide prefeasibility study (PFS) into the San José lithium project, in Spain, has estimated that it could generate some $6-billion in revenues.
The PFS estimated that a 19-year mining operation could support a 30-year lithium hydroxide production operation at San José, at a production rate of 15 000 t/y of lithium hydroxide in the first ten years of operation.
ASX-listed Infinity Lithium Corporation on Thursday said that the PFS estimated a pre-production capital expenditure of $267.9-million for the project, with average C1 cash costs over the first ten years of production projected to be $5 434/t.
The PFS estimated a pre-tax net present value of $860-million and an internal rate of return of 42%, with a pay-back period of two-and-a-half years.
“The PFS has confirmed San José as a long life, low cost project that is essential to meet the European Commission’s goal to secure critical lithium chemicals that are imperative for the economic survival of their automotive industry,” said Infinity MD Ryan Parkin.
“The value of the project is significant with a pre-tax net present value of $860-million and an attractive internal rate of return of 42% over an extended project life, which when coupled with the potential support of major European institutions such as the European Investment Bank, provides confidence for the development of the flagship lithium chemicals project within Europe.”
Parkin said that discussions were now progressing with strategic financiers and European offtake partners. The company will also look to complete permitting and definitive feasibility study work.
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