Name of the Project
Pastos Grandes lithium project.

Location
The project is located in the province of Salta, in Argentina.

Project Owner/s
Millennial Lithium Corp.

Project Description
The results of a feasibility study have indicated that Pastos Grandes has the potential to be a robust lithium carbonate producer and be in the lower quartile of lithium carbonate equivalent costs.

The project has measured and indicated resources estimated at 774 000 t of in situ­ lithium and 8.05-million tonnes of in situ potassium. Total proven and probable reserves are estimated at 177 000 t.

The operation plan for the project is based on extraction of the lithium-rich brine using a conventional wellfield and long-term production pumping, and proven processing techniques. The feasibility study envisages an operation with an estimated mine life of 40 years.

The production model is divided into a start-up stage from Year 1 to Year 6, and the main mining stage from Year 7 to Year 40.

The startup stage will be supported by brine flow rates totalling 480 ℓ/s, with brine supplied from 20 extraction wells pumping at different rates but focused on the higher-grade areas of the project.

The average grade for this stage is 469 mg/ℓ lithium resulting in production of about 21 000 t/y of battery-grade lithium carbonate equivalent (LCE). The main mining stage will be supported by an increase in brine flow to the ponds to 600 ℓ/s, which requires a pond expansion of 400 ha at the end of Year 6

to prepare the extra brine for processing. The main mining stage is supported by 30 extraction wells, each pumping between 12 ℓ/s
and 30 ℓ/s for the remaining 33 years of the mine life. The average grade for this stage is estimated at 431 mg/ℓ lithium, resulting in a maximum production of up to about 24 000 t/y battery-grade LCE.

The company is not planning on producing potassium chloride at the operation. The processing for any production of the lithium carbonate will be done at the project site.

Technical- and battery-grade lithium carbonate will be transported to a port for shipment overseas.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $1.59-billion and an internal rate of return of 28.1%, with a payback of 5.4 years.

Capital Expenditure
Initial capital expenditure us estimated at $448.2-million.

Planned Start/End Date
Not stated.

Latest Developments
Millennial continues to advance the project through product development, and a pilot plant is being assembled at site.

Inventory is being accumulated by increasing the volume of concentrated lithium brine in the pilot evaporation ponds. The pilot plant, engineered to produce 3 t/m of LCE, will provide pilot studies to support detailed engineering estimates and product sample material for potential customers.

Key Contracts and Suppliers
WorleyParsons Chile and Montgomery & Associates Consultores Limitada (feasibility study).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Millenial Lithium Corp, tel +1 604662 8184 or email info@millenniallithium.com.