Standard Lithium (TSX.V: SLI) (NYSE American: SLI) (FRA: S5L), a leading near-commercial lithium company, has released a report on positive results of a Definitive Feasibility Study (“DFS”) conducted for its first commercial lithium extraction plant project (Phase 1A), which is proposed to be located at the LANXESS South Plant. According to the report, the DFS considers first production of battery-quality lithium carbonate in 2026, using direct lithium extraction, from Smackover brine currently being produced by LANXESS Corporation from its South Brine Unit. Highlights of the Phase 1A report note that first production would be in 2026, with the project having a minimum 25-year operating life. The report noted strong project economies along with operating costs that reflect the first step to commercial production and a CAPEX of $265 million.
“We are taking a thoughtful, phased approach to project development,” said Standard Lithium president and COO Dr. Andy Robinson in the press release. “Phase 1A is the first commercial lithium extraction plant proposed for the Smackover, and a modest scale up from the Demonstration Plant that has been operating and efficiently extracting lithium from the same brine for over three and a half years. The Phase 1A Project is substantially derisked as we move rapidly towards commercialization. We have a deep understanding of the resource and history of extracting lithium from the brine using DLE, and we’ll be the first to do so at a commercial scale in the Smackover in partnership with LANXESS. We expect to replicate and scale the core elements of this first commercial plant across our extensive and growing project portfolio in the Smackover Formation in Arkansas and Texas.”
To view the full press release, visit https://ibn.fm/WDBwB
About Standard Lithium Ltd.
Standard Lithium is a leading near-commercial lithium development company with a portfolio of projects in process. The company’s flagship projects, Phase 1A Project and the South West Arkansas Project, are located in southwestern Arkansas in the heart of the Smackover Foundation. The company is focused on producing lithium from brine using direct lithium extraction (“DLE”) across approximately 180,000 acres of leases from these two projects. The company operates an industrial-scale DLE Demonstration Plant at the Phase 1A project. The scalable, environmentally friendly process eliminates the use of evaporation ponds, reduces processing time from months to hours and greatly increases the effective recovery of lithium. The company has completed a Definitive Feasibility Study (“DFS”) for its first commercial lithium extraction plant project, Phase 1A, and expects to make a final investment decision in the first half of 2024, commence construction thereafter and deliver commercial production in 2026. Phase 1A is expected to produce an average 5,400 tonnes of battery-quality lithium carbonate per year over a 25-year operating life. For the South West Arkansas project, located 50 miles west of Phase 1A, Standard Lithium completed a Preliminary Feasibility Study and expects to complete a DFS by the end of 2024, commence construction in 2025 and deliver first production in 2027. The company anticipates South West Arkansas to produce at least 30,000 tonnes per annum of battery-quality lithium hydroxide over a 20-plus year operating life. Concurrently, the company is pursuing resource development of other projects in the Smackover Formation in East Texas, as well as approximately 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino County, California. For more information about the company, please visit www.StandardLithium.com.
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