https://www.engineeringnews.co.za

Crusader joins the lithium hunt in Brazil

5th February 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Junior explorer Crusader Resources has signed a memorandum of understanding (MoU) with Lepidico to establish a joint venture (JV) to hunt for lithium projects in Brazil.

The JV would operate on a 50/50 basis and would have exclusive rights in Brazil to Lepidico’s L-Max technology, which, in addition to lithium, also generates sulphade of potash as a saleable by-product.

Crusader told shareholders this week that the company had identified significant lithium potential from rock chip sampling at its Manga prospect, which would be transferred to the JV.

“Crusader remains focused on its gold and iron assets, specifically the development of the Juruena gold project. The MoU provides the opportunity to partner with Lepidico’s technical team, access their patented L-Max technology and allow the Manga lithium project to be advanced through a JV structure,” said Crusader MD Rob Smakman.

“We are pleased with this collaboration, matching Crusader’s in-country expertise with technical expertise specific to the processing of lithium and potentially potash in Brazil. Future actions of the partnership will seek to maximise the benefit to the shareholders of both JV parties.”

It was intended that the JV would be based in Perth.

The JV remained subject to the execution of formal agreements and conditions precedent, including board approvals.

Meanwhile, ASX-listed Platypus Minerals has welcomed the establishment of the JV, saying it demonstrated the extent of the potential in the lithium sector presented by Lipidico, both through growing its exploration assets as well as through the potential application of its L-Max processing technology.

Platypus earlier this month entered into a one-month exclusivity agreement to investigate the viability of acquiring Lepidico or its assets.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.077 1.085s - 140pq - 2rq
Subscribe Now