Quarterly Activities Report
The Maricunga project's Environmental Impact Assessment (EIA) is progressing through the assessment process by Chilean authorities. Our responses to a third and final set of questions or observations were submitted to the Authority on 22 November 2019, with the final 60-day review by the Authority commencing as of that date. We therefore expect a final resolution to the EIA in Q1 2020.
The Company is advancing in discussions with a number of well-established companies and different financial institutions regarding future product off-take and project finance for the construction of the project.
The Engineering, Procurement and Construction (EPC) bidding process is underway and expected to be finalised in April 2020 with in-depth discussions with a number of competing international engineering Contractors continuing.
During the Quarter, CODELCO, the Chilean State-owned mining company, continued to advance their due diligence of MSB's records and technical data associated with the project. The MOU, signed in August 2019, will define terms for the negotiation of a definitive agreement to form a new joint venture allowing to develop the Maricunga Salar under a private-public ownership structure.
In Argentina, discussions are being finalised for the entering into a joint venture to advance the development of the Company's lithium brine project assets in the Centenario Salar.
Approval was received for exploration activities in the Greenbushes project. During the quarter additional laterite and soil sampling was completed in forestry areas to define areas for exploratory drilling.
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About Lithium Power International Ltd
Lithium Power International Limited (ASX:LPI) is a pure-play lithium explorer and developer, focusing on developing and fast-tracking to production the high-grade Maricunga lithium brine project in Chile.
LPI has a well-known performing technical team with the experience to take the Maricunga project all the way through the development stages to production.
The regions that LPI is currently focused on are:
1. Maricunga JV (Chile) – Located within the "Lithium Triangle", Maricunga is Chile's highest grade and most advanced lithium project outside the Salar de Atacama. The project lies 170 km northeast of Copiapo and 250 km from the port of Caldera.
2. Pilbara (Western Australia) – LPI has three granted exploration tenements covering 203 km2 in the Pilbara region of northern Western Australia. The largest granted exploration tenement is the Pilgangoora tenement which is 2-3 km west of the Pilbara Minerals (ASX:PLS) and Altura Mining (ASX:AJM) lithium deposits.
3. Greenbushes (Western Australia) – LPI has two granted exploration tenements covering 400 km2 in the Greenbushes area of southern Western Australia. The tenements are adjacent to the world's largest hard rock lithium mine owned and operated by Tianqi/Talison.
4. Centenario (Argentina) – Through its Argentinian subsidiary, Lithium Power holds a total of seven granted tenements in the Centenario lithium brine salar within the Salta province of the Puna Plateau. In total, the seven granted tenements cover an area of 68.46 km2.
With the exception of the Maricunga JV, all tenements are 100% owned by LPI or LPSA (including rights to the Centenario tenements).
Lithium Power International Ltd