PERTH (miningweekly.com) – ASX-listed Jindalee Resources has inked a non-binding memorandum of understanding (MoU) with major Korean conglomerate POSCO to jointly research the McDermitt lithium project, in the US.
The MoU followed an initial analysis of McDermitt ore undertaken by POSCO in 2022, and would see Jindalee provide a large composite sample from McDermitt for testing at POSCO’s research facility in Korea.
POSCO advises that testing of the McDermitt ore will investigate three separate metallurgical processes, which is expected to take approximately six months at a cost of approximately A$2-million, which will be funded entirely by POSCO.
POSCO and Jindalee will jointly evaluate the commercialisation of the project following completion of the testwork.
“I am delighted that Jindalee has been able to sign an MoU with POSCO Holdings, a leading Korean company and lithium producer as well as supplier of cathode active materials to major US automaker General Motors. This arrangement will allow Jindalee to further examine the potential of the McDermitt lithium project in Oregon, a very large and strategically important domestic source of lithium for the US battery industry,” Jindalee chairperson Justin Mannolini said.
“We look forward to receiving the results from POSCO’s testwork as part of our efforts to accelerate development of McDermitt through 2023.”