Lithium Americas secures long-term land use agreement, completes EIS

Lithium Americas (TSE:LAC announced Tuesday that, in addition to completing its environmental impact statement (EIS, it secured a long-term land use agreement with five aboriginal communities located on the Cauchari-Olaroz property in Argentina.

The company's Cauchari-Olaroz lithium project comprises a significant portion of two adjacent Argentinean salt lakes, Cauchari and Olaroz, covering 82,498 hectares located in the "Lithium Triangle" region of South America.

Under the terms of the agreements, Lithium Americas will pay pre-determined fees upon signing, upon approval of the EIS, as well as annual fees over the 30-year span of the agreements.

Additionally, the company will provide employment priority to those from the local communities, and will offer training programs, establish joint environmental monitoring programs, and will implement a program to develop local service providers, it said.

Lithium Americas said it expects to finalize a land use agreement with the sixth and final aboriginal group in the area soon.

President and CEO, Dr. Waldo A. Perez said: «The Agreements that we have signed are an acknowledgement of the mutual respect between Lithium Americas and the aboriginal people.

«These Agreements, providing Lithium Americas the right to build and put into production its lithium/potash operation, were the continuation of years of engagement with the aboriginal communities that started with a Social Responsibility Plan, developed in accordance with the Ecuador Principles and e3 plus guidelines, and aimed at promoting social development while minimizing the impact on the environment.

«We are extremely pleased to have secured land rights for the next 30 years while gaining the full engagement and participation of the region’s traditional owners. «

Lithium Americas also announced that it completed and submitted its EIS for approval to the Director of Mines and Energy Resources for the province of Jujuy. It said it expects to work closely with the Committee of Experts, the Minister of Production, and the Secretary General of the Provincial Government, so as to obtain final governmental approval for the EIS.

In order to help expedite the approval of the EIS, Lithium Americas said it presented its Environmental and Social Baseline Study (ESBS to various governmental authorities and aboriginal communities. Though the ESBS is not mandatory under Argentinean law, the company said it believes the completion of the study, which is has been working on since 2009, will make the EIS approval process easier and quicker.

The company said it has already signed an agreement with the Director of Mines and Energy Resources, and with the Director of Environmental Policies for Natural Resources to use the study to generate a long-term management plan for the development and monitoring of the project.

This Cauchari-Olaroz region contains over 80% of the world's lithium brine reserves, and an independent ranking said Lithium Americas‘ property was the third largest known lithium brine resource in the world.  

The preliminary economic assessment (PEA on the property from April 2011 provided for a 40,000 tonne per year lithium carbonate production facility, built in two phase of 20,000 tonnes per year, with construction expected to begin in 2012. The company is anticipating potash production of roughly 80,000 tonnes per year once both phases are complete.

Lithium’s characteristics make it suitable for a number of uses, but for many years, the metal was used mainly in the production of ceramics, glass and as a strong aluminum alloy. However, demand for lithium has since boomed due to the advent of the rechargeable lithium-ion battery, used in anything from watches and cell phones, to BlackBerrys, iPods and for electric vehicles, power tools and military equipment.

Lithium Americas said it expects to complete it definitive feasibility study for the project in the second quarter of 2012.

Mitsubishi Corp and Magna International are shareholders of the company, in addition to them both having off-take arrangements with Lithium Americas.

In mid-December, analysts at Mackie Research initiated coverage on the company, claiming it is «on track to becoming a leading player in the lithium market.»

The firm put a «speculative buy» ratng on the company, as well as a $3.10 price target. The company’s stock is currently trading at $1.29 a share.

Mackie Research expects the company to reach a 16,000 tonne per year production rate in 2015, and then to reach a peak production rate of 40,000 tonnes per year by 2019, putting the company «on par with the largest producers in the industry».

Lithium Americas said it expects to complete it definitive feasibility study (DFS for the project in the second quarter of 2012.

Mackie believes the DFS will show «improved economics» over those in the (PEA as potash production should be included in the report.

Читать полностью или написать коммент.. Про установку спутниковых тарелок в Московской областиhttp://tarelka-tv.ru/