Saturday , July 13 2024

Namibia’s first lithium mine on track

Desert Lion Energy has filed an independent technical report for the country’s first large-scale lithium mine, 210km from the capital of Windhoek and 220km from Walvis Bay.

Completed by Hatch Ltd and MSA Group, the report details the preliminary economic assessment (PEA) for the project, covering mining, concentrate and lithium carbonate production.

“Filing of the NI 43-101 technical report represents another significant milestone for Desert Lion Energy.

“The report culminates over 7,000 hours of exploration, engineering, test work and economic assessment as part of our plan to continue de-risking the project and develop a world-class lithium company,”

said Tim Johnston, Desert Lion’s Chief Executive Officer.

According to Desert Lion, the PEA delivered positive outcomes for the project, including cash cost of lithium carbonate of US$4080 per tonne and lepidolite (lithium) concentrate of US$141 per tonne, in each case including by-product credits.

The PEA details the production of lepidolite (lithium) concentrate at the mine site with final processing of such concentrate into battery-grade lithium carbonate near the Port of Walvis Bay.

Desert Lion’s plan encompasses the development of a mine, concentrator and lithium carbonate plant capable of producing 20,000 tonnes per year of battery-grade lithium carbonate.

On the other hand, the by-products include 35,250 tonnes of petalite concentrate per year and 290 tonnes of tantalum concentrate per year.

The development plan will continue to be assessed during the next stage of work to be completed by the company, which is planned to include further exploration results and an assessment of the lithium market conditions.

Meanwhile, the company is in the final stages of closing a secured convertible note financing for gross proceeds of up to $10 million and a $2 million.

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