- Write by:
-
Wednesday, February 10, 2021 - 7:47:01 PM
-
611 Visit
-
Print
Mining News Pro - Exploration and development company Bacanora Lithium (LON:BCN) said on Wednesday it had begun initial site activities at flagship Sonora lithium project in Mexico.
The company is developing the mine with strategic partner Ganfeng Lithium, which recently increased its stake in the Mexican project from 22.5% to 50%, injecting $65 million into the Bacanora’s coffers.
Production of battery grade lithium, the company said, is scheduled for 2023, with output estimated at 35,000 tonnes of lithium per year.
Bacanora said the construction team is focusing on preparatory work required to upgrade the main access road to the site. This will allow heavy equipment to start the bulk site earthworks later in the year.
The company has launched a tender program that aims to use local construction and engineering groups from the surrounding Sonora region.
Bacanora said it has also engaged an ecological services company based in Sonora to begin initial site works. These activities will involve the rescue and removal of surface vegetation and topsoil in the area where the processing plant will be built.
The excavated material will be stockpiled at a location adjacent to the plant site and will be stored in a manner that allows Bacanora to incorporate it into the future project rehabilitation schedule.
Price spike
Lithium prices have soared in recent weeks, particularly in China, on the back of heavy demand for lithium iron phosphate (LFP) batteries and tight battery-grade lithium carbonate spot supply.
The uptrend has expanded into Europe, the United States and the seaborne Asia market.
Producers have said they expect the price trend to continue after the Chinese New Year holiday, which officially ends on February 17.
Bacanora has said it expects lithium demand to grow by 800% by 2030.
Short Link:
https://www.miningnews.ir/En/News/610421
Jiang Weiping, the founder of major Chinese lithium producer Tianqi Lithium Corp., resigned as chairman after the ...
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off ...
Copper slipped after initially extending gains above $10,200 a ton as traders turned their attention to demand ...
BHP Group Ltd.’s proposal for Anglo American Plc to spin off platinum and iron ore units before a takeover would likely ...
Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an ...
The Biden administration is considering banning imports of enriched Russian uranium using executive authority as ...
Ucore Rate Metals (TSXV: UCU) has deemed a 26-tonne sample of mixed rare earth carbonate (MREC) from the Wicheeda mine ...
No comments have been posted yet ...