Australia-listed Lake Resources is embarking on a quest for strategic partnerships to propel its Kachi lithium brine project, in Argentina, to new heights. The company is looking for a partner to provide equity capital and to assist in mobilising third-party project financing to fund development capital expenditures.
Lake, which currently owns 80% of Kachi and ion exchange direct lithium extraction technology provider Lilac Solutions the balance, has engaged Goldman Sachs as financial adviser to explore strategic options.
“As our Phase 1 definitive feasibility study for Kachi is targeted for completion next month, we are shifting our focus to the strategic delivery of this project,” said CEO David Dickson.
“With delivery of Phase 1 of our proposed approach to project execution and the construction and delivery of a plant with a total capacity of 25 000 t/y of battery grade lithium carbonate in 2027, Kachi has the potential to be an important contributor to the world’s lithium supply, bringing significant environmental benefits compared with other projects that employ hard rock and evaporation ponds,” he said.
Lake recently upgraded the Kachi resource estimate, increasing the measured and indicated resources from 2.9-million tonnes to 7.3-million tonnes of lithium-carbonate equivalent (LCE). The updated total resource estimate exceeds 10.6-million tonnes of LCE.