Strategic minerals for a sustainable future
Latin Resources (ASX:LRS) is exploring and developing sustainable minerals in Australia and
Latin America to provide the planet with environmentally friendly products.
Latin Resources Limited (ASX: LRS) is an Australian-based mineral exploration company, with projects in South America and Australia, that is developing mineral projects in commodities that progress global efforts towards Net Zero emissions.
The Company is focused on its flagship Colina Lithium Project in the pro-mining district of Minas Gerais Brazil, where the Company is developing a fully sustainable mining operation which has the potential to establish the Company as the second largest spodumene concentrate producer in Brazil and among the lowest cost spodumene concentrate producers globally.
The Colina Lithium Project has a total Mineral Resource Estimate of 45.2Mt @ 1.34% Li2O, reported above a cut-off of 0.5% Li2O. The classification of this JORC MRE includes 0.43Mt @ 1.34% Li2O Measured + 29.7Mt @ 1.37% Li2O Indicated + 15.0Mt @ 1.22% Li2O Inferred.
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 Colina Lithium Project of 45.2Mt @ 1.34% Li2O.
- The Preliminary Economic Assessment (PEA) for the Colina 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 Colina 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 Colina Project PEA contemplates a proposed 3.6Mtpa standalone mining and processing operation, demonstrating strong financial metrics for the Colina 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 Company expects to announce an updated MRE in Q4 2023, with the goal of increasing tonnage and converting existing Colina resources to higher JORC classifications. The results of the PEA and expected MRE expansion will serve as the foundation for the DFS which is expected to be completed mid 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 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,
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.