Cobre secures options over lithium technology
PERTH (miningweekly.com) – ASX-listed Cobre Montana on Tuesday announced that it had signed a 25-year option over practical processing technology to recover lithium from its Western Australian tenements.
The junior told shareholders that the agreement would combine Cobre’s mica-based lithium occurrences in Western Australia with the only known practical processing technology able to extract lithium from the sheet-like mica.
Perth-based Strategic Metallurgy developed the technology.
Cobre MD Adrian Griffin said that securing the licence agreement was a step-change point for the company, which also had ongoing copper/gold exploration interests in Chile.
“The licensing deal follows our recent success in delivering proof-of-concept lithium carbonate production from micas, using the Strategic Metallurgy technology.
“We are able, during this proof-of-concept phase to produce battery-grade lithium carbonate suitable as feedstock for these emerging high-tech batteries, from our lithium mica deposits in Western Australia.”
Cobre’s option over the technology would be free for a period of six months, with two subsequent option extensions of six months available, for the payment of A$5 000.
If Cobre exercised the option, the company would be required to pay A$100 000, and would be required to continue testing with Strategic Metallurgy, as well as providing the company with a 2% gross product royalty.
Two further licence options would also be available anywhere in the world, with Cobre having the right to change nominations by agreement with Strategic.
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