Canadian Mining Journal

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LITHIUM: International Lithium estimates 25-year mine life at Mariana JV with new study



ARGENTINA – International Lithium could produce 10,000 tonnes of lithium carbonate equivalent per year over a 25-year mine life at its Mariana lithium brine project, according to a recent preliminary economic assessment. It could also produce 84,000 t/y sulphate of potash.

The project, located in Salta, has an estimated US$192 million after tax net present value at a 10% discount rate and a 20% after tax internal rate of return.  It would cost an initial US$243 million and an additional US$46.6 million in annual operating costs. It could generate US$143 million in annual revenue.

The project is a joint venture between Ganfeng Lithium and International Lithium. Ganfeng owns 82.75% of the project, although International Lithium can increase its 17.24% ownership by 10% through a back-in right.

The Mariana project contains 765 billion litres grading 306 mg/L lithium and 9,457 mg/L potassium for 747,000 tonnes lithium carbonate equivalent. International Lithium estimates that brine within the project area covers 135 km2 and extends from 0.5 metre below surface to at least 329 metres below surface.

The company is now primarily focused on Mariana as well as its 30 km2 Raleigh Lake lithium project in Ontario. It has two other lithium projects in Ontario called Mavis Lake and Forgan Lake, as well as the Avalonia lithium joint venture in Ireland with 55% owner Ganfeng.

Shares of International Lithium are currently trading at 5¢ with a 52-week range of 4¢ to 22¢. The company has a $5 million market capitalization.

This story first appeared on www.NorthernMiner.com.