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 Salinas 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 Salinas Lithium Project has a Global Mineral Resource Estimate of 70.3Mt @ 1.27% of Li2O at the Colina and Fog’s Block Deposits.
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 70.3Mt @ 1.27% 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 recent 41% MRE increase 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.