Lithium Ionic seeks licenses for $230 million Brazilian mine

Canadian junior Lithium Ionic has applied for an environmental and installation license to advance its US$230 million project to develop a lithium mine in Minas Gerais state.

The mine would be built on the Bandeira deposit, which is owned by the company and part of the Itinga project.

The Concurrent Environmental Licensing (LAC) application was submitted to the authorities of Minas Gerais, the state where most of Brazil’s lithium projects are developed.

The state government recently recognized all of the company’s properties and initiatives, including Bandeira, as “priority projects,” which is expected to expedite the process of reviewing construction and operating licenses for the project.

“We are pleased that the Minas Gerais state authorities recognize the importance of supporting the development of the battery materials sector in the region. And we believe that having our project on your priority business development list will result in an appropriate and timely assessment of our application,” Blake Hylands, CEO of Lithium Ionic, said in a statement.

According to the company, the preliminary economic assessment (PEA) of the Bandeira project, announced last month, defined an underground mining operation with a reduced environmental footprint compared to other development options, thus accelerating the obtaining of licenses .

The Bandeira project covers 175 ha, or approximately 1% of Lithium Ionic’s territory (of 14,182 hectares) in the area known as Vale do Lítio, in Minas Gerais. Two lithium producers already operate in the region.

Megan Schneider

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