Infinity Lithium Corporation Limited (ASX:INF) is the celebrating the granting of an Investigation Permit for the San José Lithium Project Joint Venture entity Tecnología Extremeña del Litio (TEL) by Spanish authorities.
Managing Director, Ryan Parkin, said the granting of the permit provides the legal basis for TEL to retain tenure of the area, and the right to investigate the grounds. The PIAV is required to progress a derived exploitation concession.
The Project terrain includes areas PIAV and Investigation Permit Valdeflórez (PIV). The beneficiation plant and downstream lithium chemical conversion facilities will be located in the PIAV area, utilising feedstock from the lithium mica ore contained within PIV. The fully integrated Project can potentially produce battery grade lithium hydroxide, a key requirement in high nickel content cathodes required in the production of electric vehicles.
The Junta of Extremadura and the Extremadura Department of Mines is continuing to advance the processing of the PIV administrative file. The Company can request the application for a derived exploitation concession from the Valdeflórez and Ampliación de Valdeflórez Investigation Permits once both are granted. The submission of the exploitation concession will include the lodgement of the corresponding environmental impact evaluation.
The granting of Investigation Permit Ampliación a Valdeflórez is another positive development in both the progression of San José as the company moves forward towards lodgement of the mining licence application, and as a potential catalyst for other investment activities in the regional value chain,” Mr Parkin said.
“Infinity is looking forward to building on our collaborations with regional and local stakeholders to deliver a sustainable and long-life project to the community.”
Infinity’ wholly owned subsidiary Extremadura Mining SL maintains 75% ownership interest in TEL and an option to move to own 100% of the Project that is exercisable prior to the Project final investment decision.
The proposed San José Lithium Project is a fully integrated industrial Project focused on the production of battery grade lithium chemicals from a mica feedstock that represents the EU’s 2nd largest JORC compliant hard rock lithium deposit.
The Project would provide an essential component in the EU’s development of a vertically integrated lithium-ion battery supply chain. The availability of critical raw materials and the production of battery grade lithium hydroxide in the EU is essential to ensure the long-term production of lithium-ion batteries for electric mobility and the transition of the burgeoning EU’s automotive industry to electric vehicle.