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Lake Sources and Ford Motor Firm signal non-binding MoU to barter for lithium offtake from the Kachi Challenge

Lake Sources and Ford Motor Firm signal non-binding MoU to barter for lithium offtake from the Kachi Challenge

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Australia-based Lithium developer Lake Sources has signed a non-binding Memorandum of Understanding (MoU) with Ford Motor Firm for the offtake of roughly 25,000 tonnes each year (tpa) of lithium from the Kachi Challenge.

Kachi contains 705 sq km of leases and lease functions over a brine-bearing basin 20km lengthy, 15km vast, and 400-800m deep centered.

As we’ve shared, Ford is sourcing deeper into the battery provide chain. That is one in all a number of agreements we’re exploring to assist us safe uncooked supplies to assist our aggressive EV acceleration.

—Lisa Drake, Ford’s vice chairman, EV Industrialization

Each Lake and Ford see this as a chance for a possible long-term settlement with the flexibility to scale up environmentally accountable manufacturing and take part in Lake’s different initiatives to make sure high-quality lithium merchandise can be found to Ford. This MoU with Ford helps Lake’s technique to be a key unbiased provider into world lithium provide chains and make sure the safety of provide to prospects.

—Steve Promnitz, Lake’s Managing Director

Lake’s Kachi Challenge is positioned in Argentina’s Catamarca Province on the southern finish of the Lithium Triangle, a world-renowned province chargeable for 40% of world lithium manufacturing.

Utilizing direct extraction expertise offered by Lake’s expertise associate Lilac Options, Lake plans to provide at Kachi a sustainable, high-purity lithium carbonate product.

Lilac has developed and patented a brand new ion trade expertise to extract lithium from brines with out the necessity for evaporation ponds. Lilac produces its ion trade beads and delivers these beads to brine initiatives worldwide. The beads are loaded into tanks, brine is flowed by means of the tanks, and because the brine percolates by means of the beads, the beads soak up lithium out of the brine.

As soon as the beads are saturated with lithium, hydrochloric acid is used to flush out the lithium, yielding lithium chloride. Lithium chloride is the “crude oil” of lithium—the usual middleman in each lithium brine mission at present. The lithium chloride is then processed on-site with standard course of tools to yield a completed product.

In April 2020, Lake introduced pre-feasibility research (PFS) outcomes for Kachi, exhibiting its potential to grow to be a long-life, low-cost operation with an annual manufacturing goal of 25,500 tonnes of battery-grade lithium carbonate utilizing direct extraction expertise. The outcomes confirmed a excessive margin mission, with an EBITDA margin of 62%, along with aggressive capital and working prices.

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