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Cogeneration|Efficiency|Energy|Financial|Gas|PROJECT|SECURITY|Underground|Environmental|Bearing
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Updated scoping study for Infinity’s Spain project proves positive

10th November 2023

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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ASX-listed Infinity Lithium has completed an updated scoping study for the San José lithium project in Spain, and highlights that the project’s positive financial outcomes and environmental characteristics are complemented by increased production profiles resulting from improved lithium recoveries and energy efficiencies.

The study assessed the potential for the significant increase in production of battery-grade, lithium hydroxide monohydrate (LHM) from its proposed integrated lithium chemical conversion facility using a lithium-bearing hard-rock mica as feedstock from an underground mineral extraction operation.

The study estimates a pre-tax net present value (NPV) of about $4.12-billion, a pre-tax internal rate of return (IRR) of 25.8% and a post-tax NPV of about $2.87-billlion and a post-tax IRR of 21.3%.

It estimates steady state C1 costs (post ramp-up) of $5 723/t LHM after by-product credits.

The LHM price forecast is $27 000/t over the life of the project.

The increased production is posited to be strategically important for Europe.

The study shows an about 33 000 t/y LHM production (average steady state) and 26-year production life (including ramp-up).

It indicates a considerable volume upside and long-life supply of battery-grade LHM.

In terms of energy efficiency and security, the study mentions cogeneration of energy from the patented Li-Stream RPK process.

Mitigation of geopolitical risk would be achieved through eliminating yearly natural gas consumption.

The balance of energy is available from acquired green electricity.

The study shows an improved environmental performance in a European market focused on emission reduction, Infinity says, with the lowest-quartile Scope 3 carbon dioxide (CO2) footprint for the production of battery-grade LHM and International Standards Organisation-compliant Scope 1 to 3 CO2 footprint of 8.3 kg of CO2/t of LHM.

The study highlights the use of Li-Stream RPK and bleed stream treatment to maximise lithium recoveries from run-of-mine to product.

The industry standard process to convert lithium liquor to battery-grade LHM is said to minimise process risk.

Infinity has appointed Macquarie Capital as corporate adviser to assist the company on engaging with strategic partners and investors in relation to the financing of the project.

“The significant advancements in our research and development programme have demonstrated material upside potential for San José and present an opportunity for other non-traditional sources of lithium-bearing materials to utilise our intellectual property to maximise lithium recoveries while providing significant social and environmental upside.

“We are pleased to align the project to the strategic objectives of the European Union, while ensuring the highest calibre outcomes for the local community. The advancement of San José is a generational opportunity for the region of Extremadura, and we are excited to progress the next stages of the project following the outcomes detailed in the updated scoping study,” says Infinity CEO and MD Ryan Parkin

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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