Western Lithium USA Corp. last week provided an update on the progress and timeline of the Kings Valley and Cauchari-Olaroz lithium projects.
In Nevada, Western Lithium plans to work with an engineering firm to find a feasible gas pipeline to connect the Kings Valley Lithium Project with the Ruby Gas Interstate Pipeline. In addition, testing campaigns commenced at the company's lithium and potassium demonstration facilities located in Weimar and Sondershausen, Germany.
"Lithium market conditions appear to be tight,"
Western Lithium CEO Jay Chmelauskas said. "On Sept. 15, a major lithium producer, FMC Corp., raised lithium prices for all lithium products by 15 percent effective Oct.1, 2015."
The testing campaigns are scheduled to be concluded by January 2016 and will support design criteria and equipment selection for a definitive feasibility study.
In Argentina, Western Lithium's subsidiary, Lithium Americas Corp., recently signed a Heads of Agreement ("HOA") with POSCO, a major South Korean steel and materials company. The HOA defined the basic conditions of a joint venture to develop a portion of the Cauchari-Olaroz lithium brine deposit.
The plant is expected to produce 2,500 tons each year by the end of 2016, and ramp up to 20,000 tons per year by the end of 2017.
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