Critical minerals for a sustainable future
Latin Resources (ASX:LRS) is developing a low-cost, sustainable, tier one lithium mine in the premier mining jurisdiction of Minas Gerais, Brazil.
Latin Resources is an ASX-listed, Perth-headquartered company and is the 100%-owner of the Salinas lithium project located in Minas Gerais, a pro-mining State of Brazil. Minas Gerais is home to over 300 operating mines including projects owned by BHP, Anglo American and Vale.
The Salinas Lithium Project has potential to become a top 10 hard rock lithium operation by production globally (excluding Africa), located in the world class mining jurisdiction of Minas Gerais, Brazil, with development flexibility to supply new markets focusing on the USA and Europe.
The Global Mineral Resource Estimate for the Salinas Lithium Project was materially upgraded in May 2024 to 77.7Mt @ 1.24% Li2O (reported above a cut-off of 0.5% Li2O) with greater than 85% in the Measured & Indicated categories, which reinforced Salinas’ potential to become a large-scale and long-life operation.
Latin Resources announced on 15 August 2024 that is has entered into a binding Scheme implementation agreement with Pilbara Minerals (ASX:PLS) under which it is proposed that Pilbara Minerals will acquire 100% of the shares in Latin Resources by way of a Court-approved scheme of arrangement. Pilbara Minerals owns 100% of the world’s largest, independent hard rock lithium operation, located in Western Australia.
Related ASX announcements:
- Binding Scheme Implementation Arrangement for Pilbara Minerals to acquire Latin Resources – 15 August 2024
- Salinas Lithium Deposit MRE – 30 May 2024
- Salinas Lithium Project PEA – 28 September 2023
Key points about Latin Resources:
- Latin’s strategy is to discover, delineate and develop mineral projects in commodities that progress global efforts towards net zero emissions.
- All of the Company’s activities are undertaken to the highest environmental, social and governance standards.
- In South America, the Company’s focus is on lithium and copper projects, with both commodities highly sought after as critical minerals to the burgeoning electric vehicle market.
- In Brazil, the Company has defined a total Mineral Resource Estimate at its Salinas Lithium Project of 77.7Mt @ 1.24% of Li2O at the Colina and Fog’s Block Deposits.
- The Preliminary Economic Assessment (PEA) for the Salinas Lithium Project demonstrates a low-capital, two-phased operation which delivers high-quality SC5.5, and a 3% Li2O (SC3) spodumene tails concentrate product.
- Latin’s Salinas Lithium Project PEA contemplates a fully sustainable mine design with simple Dense Media Separation (DMS) and spirals for spodumene tails concentrate processing, hydro electricity supply, dry-stack tailings and recycled water to meet ESG standards.
The Salinas Project Preliminary Economic Assessment (PEA) contemplates a proposed 3.6Mtpa standalone mining and processing operation, demonstrating strong financial metrics for the Salinas Project. The PEA incorporates Phase 1 and a Phase 2 processing plant, and demonstrates robust combined economics, highlighted by a combined after-tax NPV8% of A$3.6 billion (US$2.5 billion) and combined after-tax IRR of 132%.
The PEA confirms that the Company will be a large-scale, low-cost producer of a fully integrated concentrate plant and environmentally sustainable production of SC5.5 and SC3 spodumene concentrate, with significant cost saving benefits and competitive market advantages from its geographical location.
The results of the PEA and substantial increase of Measured and Indicated portions of the MRE will serve as the foundation for the DFS, which is expected to be completed Q3 2024.
Latin also holds the Catamarca Lithium Project in Argentina and through developing these assets, aims to become one of the key lithium players to feed the world’s insatiable appetite for battery metals.
- Latin American Projects
- Australian Projects
- Investments
Our Projects
Salinas Lithium
Project, Brazil
Latin has a strategic tenement position in Minais Gerais state that is highly prospective for spodumene lithium. The region is home to two significant lithium developers, highlighting its prospectivity.
Catamarca Lithium Project,
Argentina
Latin Resources has accumulated the largest hard rock spodumene landholding in Argentina, totalling over 70,000 hectares. The Catamarca Project contains numerous swarms of spodumene pegmatites that have not been fully explored.
