Infinity Lithium Corporation Ltd’s (ASX:INF) (FRA:3PM) San José Lithium Project joint venture entity Tecnología Extremeña del Litio (TEL), has been granted the key Investigation Permit Ampliación a Valdeflórez (PIAV), which gives it the legal tenure to the area and the right to investigate the grounds in Spain.
The Australian-listed minerals company’s wholly-owned subsidiary Extremadura Mining SL maintains 75% ownership interest in TEL, with an option to increase its holding to 100% of the project, exercisable prior to the project final investment decision.
Potential catalyst for other activities
Infinity managing director Ryan Parkin said: “The granting of Investigation Permit Ampliación a Valdeflórez is another positive development in both the progression of San José as the company moves forward towards lodgement of the mining licence application and as a potential catalyst for other investment activities in the regional value chain.
“Infinity is looking forward to building on our collaborations with regional and local stakeholders to deliver a sustainable and long-life project to the community.”
Advancing processing of PIV
A PIAV is required to progress a derived exploitation concession.
The project terrain includes areas under the PIAV and the Investigation Permit Valdeflórez (PIV).
A planned beneficiation plant and downstream lithium chemical conversion facilities will be located in the PIAV area, utilising feedstock from the lithium mica ore contained within the PIV.
The fully integrated San José project can potentially produce battery-grade lithium hydroxide, a key requirement in high nickel content cathodes required in the production of electric vehicles.
Processing of the PIV administrative file continues to be advanced by the Junta of Extremadura and the Extremadura Department of Mines.
INF can request the application for a derived exploitation concession from the Valdeflórez and Ampliación de Valdeflórez Investigation Permits, once both are granted.
The submission of the exploitation concession will include the lodgement of the corresponding environmental impact evaluation.
EU’s Coronavirus Recovery Fund a boost
San José has the potential to provide long-term employment and stimulate significant economic activity locality of Cáceres, whilst acting as a beacon for further downstream investment in the lithium-ion battery value chain.
Spain has been recognised as a major beneficiary of the European Union (EU) €750 billion Coronavirus Recovery Fund, with more than €140 billion in grants and low-interest loans.
Maroš Šefčovič, Vice President of the European Commission, Leader of the European Battery Alliance (EBA) and European Raw Materials Alliance (ERMA), has noted that the Coronavirus Recovery Fund is a “ready-made tool” to boost domestic supplies of the raw materials needed to make lithium-ion batteries.
Automotive industry in Spain
The automotive industry is critical for Spain, which ranks second in Europe and eighth globally in automaking, with the automotive industry representing 10% of Spain’s GDP and 18% of total exports in 2019.
Cáceres has the capability to attract world-class participants in cathode and lithium-ion battery production, with a long-term source of lithium raw materials, and the availability of critical lithium chemicals required to underpin the rapid adoption electric mobility.
San José Lithium Project
The proposed fully integrated industrial project is focused on the production of battery-grade lithium chemicals from a mica feedstock that represents the EU’s second-largest JORC-compliant hard rock lithium deposit.
This project would provide an essential component in the EU’s development of a vertically integrated lithium-ion battery supply chain.
The availability of critical raw materials and the production of battery-grade lithium hydroxide in the EU is essential to ensure the long-term production of lithium-ion batteries for electric mobility and the transition of the burgeoning EU’s automotive industry to electric vehicles.