Alexander Mining PLC Lithium Joint Venture Update (7419I)
June 21 2017 - 5:59AM
UK Regulatory
TIDMAXM
RNS Number : 7419I
Alexander Mining PLC
21 June 2017
21 June 2017
Alexander Mining plc
("Alexander" or the "Company")
Update on Lithium Research and Development Joint Venture
-- Considerable interest from lithium prospect developers
-- Expansion of project into other lithium bearing minerals
-- Research and development laboratory work to start shortly
Further to the announcement about the Company's joint venture
("JV") project for the recovery of lithium from hard rock sources
on 2 March 2017, Alexander is pleased to announce that there has
been significant interest, including the provision of samples, from
several companies in the mining industry. Pursuant to this
interest, the JV Agreement between Alexander and Dr. Nicholas
Welham has been varied to include the testing of the potential
process on a wider range of lithium bearing minerals, ores and
concentrates.
The original JV Agreement was restricted to spodumene containing
ores, concentrates and tailings. The commercial terms of the JV
remain unchanged.
Now that suitable samples have been received, Dr Welham plans to
start research and development laboratory work shortly. The lithium
research and development programme is complementary to the
Company's existing leaching technology for the recovery of cobalt,
which has an important use in lithium ion batteries and other high
technology sectors.
Enquiries
Martin Rosser
Chief Executive
Mobile: +44 (0) 7770 865
341
Matt Sutcliffe
Executive Chairman
Mobile: +44 (0) 7887 930
758
Alexander Mining plc
Tel: +44 (0) 20 7078 9566
Email: mail@alexandermining.com
Website: www.alexandermining.com
Northland Capital Partners
Limited
Matthew Johnson / Gerry
Beaney
+44 (0) 20 3861 6625
(Corporate Finance)
John Howes
(Corporate Broking)
Turner Pope Investments
(TPI) Ltd
James Pope / Ben Turner
+44 (0) 20 3621 4120
R&D Joint Venture Background
The JV has been formed to investigate the potential recovery of
lithium from lithium bearing minerals. The JV parties believe that
the only realistic sources of lithium to supply the rapidly
expanding demand is from hard rock resources. Brine deposits are
primarily in South America (Bolivia, Argentina and Chile) and China
and historically these countries have a moderate sovereign risk.
Brine deposits are concentrated by solar evaporation from large
ponds and can only realistically occur in extremely arid areas. It
is hard to fast track production from brine as the process to
obtain lithium typically takes 18-24 months from commissioning to
first product. Hard rock resources are a more viable proposition
for rapid development as the time from commissioning to first
concentrate can be a matter of a few weeks.
The spodumene (LiAlSi(2) O(6) ) concentrate is typically sold
onto Chinese producers of lithium carbonate who use a combined
pyrometallurgical-hydrometallurgical flowsheet to produce a lithium
carbonate (or hydroxide) product. The high cost of the pyro--hydro
process remains the significant obstacle to the low-cost production
of lithium carbonate (or hydroxide) from spodumene.
Other lithium minerals, particularly the micas lepidolite and
zinnwaldite, are often found in conjunction with spodumene but must
be removed prior to shipment as they are a major problem in the
classical process. Deposits where the lithium is divided amongst
several minerals may have a promising head grade but are unable to
economically produce a spodumene concentrate. Such deposits may
become economic under the envisaged process. Remote deposits are
also potential users as the cost of transport may outweigh the
value of the concentrate produced and a low cost on-site process to
produce a high value product may well change the economics.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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