Lithium mine developer CleanTech Lithium completed a scoping study on its Laguna Verde lithium project in Chile that estimated the project capable of producing 20,000 mt/year lithium carbonate over a 30-year operating life, it said Jan. 5
The study also specified a construction timeline of 1.5 years, extraction recovery rate in the direct lithium extraction stage of 90.4%, concentration stage and chemical plant recovery rate of 94.2%, and total recovery rate of 85.2%.
CleanTech said the study underpinned the potential for Laguna Verde to be a significant source of battery-grade lithium to European and US markets based on sustainable direct lithium extraction, or DLE, technology.
Financially, the scoping study calculated a capital cost of ~$383.6 million for a DLE plant built with SunResin Materials use of its current DLE tech.
It also forecast an operating cost of $3,875/mt of lithium carbonate, a payback period of 20 months, a post-tax net present value of $1.42 billion at 10% discount rate and internal rate of return of 45.1%.
Economics were based on a long-term lithium carbonate price of $22,500/mt from 2027, it added.
Production is expected to begin no later than 2026, but the company's board and management are aiming for late 2025.
CleanTech said it would commence the prefeasibility study for the project immediately, which it planned to complete in the second half of 2023, and would consider potentially converting lithium carbonate to lithium hydroxide.
At $80,900/mt CIF North Asia, lithium hydroxide prices are currently $6,700/mt, or 9%, above those of lithium carbonate based on assessments.
“The scoping study brings additional confidence in the strong economics of the Laguna Verde project based on low operating and capital costs... The study also further matures the process and technical design concept for the project with strong ESG principles integrated within each stage of development,” CleanTech CEO Aldo Boitano said.
“The scoping study defines a pathway to create battery-grade lithium with a low environmental footprint, positioning the company exceptionally well to supply the EU and US markets,” he added.
CleanTech teams with China's DLE technology supplier SunResin New Materials Co to develop its lithium projects in Chile in August.
In June, it announced the confirmation of 99.9% battery-grade lithium carbonate from laboratory-scale DLE test-work using brine from Laguna Verde.
CleanTech is also working on the Francisco Basin project in Chile, where it has already begun a scoping study, which is set to be finalised in the first half of 2023.
