Overview
Electrical autos aren’t simply the most popular development in Silicon Valley anymore. With wider cultural acceptance of inexperienced energy options, extra accessible applied sciences and more and more supportive legislative motion, analysts count on this market and the demand for metals that provide it to climb to exponential highs.
In america, the federal government has named lithium a significant part in electrical automobile batteries and a strategic steel of significance. In 2021, President Joe Biden introduced a US$2.3 trillion Infrastructure Plan, which outlines the intent to convey electrical automobiles absolutely to the mainstream with investments of US$174 billion to advertise this expertise and assemble mandatory charging stations. This important spending demonstrates thrilling early-mover funding alternatives for lithium manufacturing firms and electrical industries alike.
Century Lithium (TSXV:LCE,OTCQX: CYDVF, Frankfurt:C1Z ) is a Canada-based advanced-stage lithium firm, centered on growing its 100-percent-owned Clayton Valley Lithium Challenge in Nevada. Century Lithium is within the pilot stage of testing materials from its lithium-bearing claystone deposit and progressing in direction of finishing a feasibility research and allowing, with the objective of turning into a home producer of lithium for the rising electrical automobile and battery storage market.
In June 2022, Century Lithium introduced constructive outcomes from the DLE portion of its lithium extraction facility (pilot plant) in Amargosa Valley, Nevada. Assays acquired from samples collected throughout steady working cycles in 2022 revealed a median lithium restoration of 99.5 % throughout the DLE portion of the pilot plant. These excessive lithium recoveries had been accompanied by excessive ranges of impurity rejection.
Century Lithium’s pilot plant reached a milestone within the supply of about 4,000 liters of concentrated lithium chloride resolution to 2 laboratories in Canada for additional testing within the manufacturing of lithium merchandise.
Century Lithium’s pilot plant
“Every laboratory is now working to additional deal with the options – one to provide lithium carbonate, and the opposite, lithium hydroxide, as the ultimate finish product,” commented Invoice Willoughby, president and CEO of Century Lithium. “These outcomes will then be used to find out what further steps are wanted, if any, to achieve battery-grade requirements and consider the options for producing these merchandise within the ongoing feasibility research.”
In Might 2022, Century Lithium acquired Enertopia’s (OTCMKTS:ENRT) 160-acre lithium challenge, situated adjoining to its Clayton Valley Lithium Challenge in Nevada. Willoughby stated the strategic acquisition will probably assist in optimization and manufacturing schedule growth for the corporate’s upcoming feasibility research.
The feasibility research is being carried out by Wooden PLC, which has accomplished quite a few research for mining initiatives in Nevada, in addition to related research for numerous lithium initiatives globally. It was just lately awarded a contract by Inexperienced Lithium, a mineral processing firm, to construct and function the UK’s first large-scale business lithium refinery. Century Lithium additionally engaged thyssenkrupp nucera USA to offer the design and engineering for the chlor-alkali plant as a part of the continued feasibility research on the Clayton Valley Lithium challenge.
The pilot plant has been designed for proper interplay and testing of the main parts throughout the extraction course of and evaluation of the ensuing lithium merchandise. In Might 2023, Century Lithium additional confirmed the manufacturing of high-purity lithium carbonate grading 99.87 % with lithium-bearing claystone. A number of kilograms of high-purity lithium carbonate had been created from the intermediate lithium options generated in January 2023 on the firm’s lithium extraction pilot plant. Following leaching and direct lithium extraction (DLE), options had been shipped to Saltworks Applied sciences for ultimate processing. Outcomes confirmed consistency within the composition of each the DLE eluent produced by the pilot plant reaching 99.87 % content material versus 99.87 % reported beforehand.
On the finish of 2021, Century Lithium acquired a water rights allow from the state of Nevada, which permits for the appropriation of 1,770 acre-feet of groundwater per 12 months for mining, milling and home purposes. This quantity represents the biggest single quantity of permitted water out there within the Clayton Valley, which is a completely appropriated hydrogeographic basin. “Water assets in Nevada are restricted, due to this fact the acquisition of this allow by Century Lithium represents a milestone which can safe a majority of the challenge’s future water necessities,” stated Willoughby.
The corporate’s discovery of the huge useful resource made Clayton Valley a premium American supply of lithium that has the potential to affect the availability of lithium for the fast-growing vitality storage battery market.
Pattern materials from the pilot plant for testing
“We’re in Nevada and we’re in a rustic that badly wants lithium. We’d be probably the most environmentally pleasant challenge and the bottom acid client. We’re capable of remove sulfuric acid in our course of and that might make us an especially environmentally pleasant, massive, cheap, low-cost producer within the coronary heart of america.” stated Willoughby.
The corporate is utilizing environment-friendly mining options by means of saltwater and hydrochloric acid as a substitute of the normal freshwater and sulfuric acid strategies. This important proposal might imply Century Lithium will not compete for Nevada’s scarce freshwater assets for challenge development when it comes time for mining.
In August 2020, Century Lithium launched the outcomes of its pre-feasibility report (PFS), which offered a constructive snapshot of Clayton Valley’s potential manufacturing scope utilizing sulfuric acid (the feasibility research will use hydrochloric acid – a greener various to sulfuric acid). Possible reserves stand at 213 million tonnes at 1,129 ppm lithium, with a median annual manufacturing of 27,400 tonnes of lithium carbonate equal and a mine lifetime of over 40 years. Web current worth (NPV 8 %) was at US$1.03 billion, and the after-tax IRR stood at 25.8 %, utilizing a base case lithium carbonate worth of US$9,500.
“This PFS is a serious milestone for Century Lithium. These constructive outcomes take us nearer to our objective of growing a possible world-class lithium deposit. Century Lithium’s land place and assets afford us the chance for a long-life challenge with low working prices and potential to be a big supply of lithium for america,” Willoughby stated on the time.
The corporate additional introduced its utilization of Koch Know-how Options’ (KTS) Li-Professional course of for direct lithium extraction. The KTS tools has been put in and is now working at Century Lithium’s lithium extraction pilot plant in Amargosa Valley, Nevada, USA.
Century Lithium acquired a provisional patent from the US Patent and Trademark Workplace. The patent-pending course of encompasses the corporate’s flowsheet, as developed at its pilot plant in Amargosa Valley, Nevada, and protects the corporate’s mental property concerning the dealing with of options derived from the remedy of strong supplies together with clays from the Clayton Valley Lithium Challenge.
Firm Highlights
- Century Lithium is one in every of a handful of advanced-stage firms which are working at a feasibility research degree with an lively pilot plant, and advancing in direction of manufacturing.
- The corporate has confirmed the manufacturing of high-purity lithium carbonate grading 99.87 % with lithium-bearing claystone from its Clayton Valley Lithium challenge in Nevada, USA.
- Century Lithium has a water rights allow in place, thus securing a majority of the challenge’s future water requirement – one thing that only a few firms maintain.
- The Clayton Valley lithium challenge has an intensive floor deposit adjoining to Albemarle’s Silver Peak brine operation.
- The corporate launched robust financial standing with its pre-feasibility research, utilizing $9,500 as a base worth of lithium carbonate, together with a possible reserve estimate of 213 million tonnes (Mt) at 1,129 components per million (ppm) lithium, inside charge of return (IRR) of 25.8 % and capex of C$493 million. Lithium carbonate is now being contracted at $20,000 to $40,000/tonne.
- Century Lithium possesses very favorable financial and geographic positioning in leveraging present robust demand for lithium, world-class mining jurisdiction and an advanced-stage operation of their flagship Clayton Valley lithium challenge.
- The corporate is well-positioned to grow to be a long-term, low-cost lithium home producer for the rising electrical automobile and battery storage market.
- The corporate achieved a big milestone with the manufacturing of 99.94 % lithium carbonate created from lithium-bearing claystone from its 100-percent-owned Clayton Valley Lithium Challenge.
- The corporate just lately engaged thyssenkrupp nucera to offer the design and engineering for the chlor-alkali plant as a part of the continued feasibility research on the corporate’s Clayton Valley Lithium Challenge. The chlor-alkali plant is an integral part that can enable the Challenge to self-generate two key reagents required for processing lithium-bearing claystone by means of to a lithium carbonate product.
- Century Lithium has engaged Koch Know-how Options’ (KTS) tools for KTS’ Li-Professional course of for direct lithium extraction.
Key Challenge
Clayton Valley Lithium Challenge
The 100-percent-owned Clayton Valley lithium challenge spans 5,430 acres in southwest Nevada and sits instantly east of Albemarle’s Silver Peak mine, North America’s solely lithium brine operation. The asset hosts great potential with Century Lithium’s discovery of a world-class useful resource of lithium-bearing claystone adjoining to the brine area to the east and south of Angel Island.
Lithium mineralization happens on the property inside montmorillonite clays all through the sediments to a depth of at the least 150 meters. Metallurgical testing has indicated low-cost processing prospects by means of leaching with low acid consumption of 126 kg/t and excessive lithium restoration of over 85 % lithium. This lithium claystone deposit’s distinctive massive flat-lying nature permits for mining with a low strip ratio resulting from minimal overburden and no interbedded waste, which is vastly economically advantageous for Century Lithium.
Lithium-enriched claystone on the floor at Clayton Valley Challenge, Nevada
Century Lithium has now efficiently repeated steps from take a look at mining by means of to the manufacture of battery-grade lithium carbonate. The outcomes for lithium carbonate materials assays had been finalized by Saltworks and SGS Canada.
Administration Group
Dr. William Willoughby – President, Chief Government Officer and Director
Dr. William Willoughby is a mining engineer with 38 years of expertise in all features of pure assets growth. Since 2014, he has been principal and proprietor of the consulting agency Willoughby & Associates. Earlier than that, he was president and COO of Worldwide Enexco, which was acquired by Denison Mines in 2014. He beforehand held numerous positions with Teck. Willoughby has been an expert engineer since 1985 and acquired his doctorate in mining engineering and metallurgy from the College of Idaho in 1989.
Bryan Disher – Chairman of the Board
Bryan Disher serves as a non-executive director of Century Lithium. Disher is a retired associate from PwC Canada and has 37 years of expertise with the agency’s practices in Canada, Australia, and Ukraine. He has assisted firms with public choices in Canada and america, acquisitions, monetary reporting, regulatory compliance, and governance. He served on the board of administrators of PwC Canada for eight years, together with a time period as chair. Disher has beforehand served as non-executive director for Rubicon Organics Inc., Minds + Machines Group Restricted and Balmoral Sources. Disher is a CPA, CA and holds a bachelor of enterprise administration from the College of New Brunswick.
Abraham (Braam) Jonker – Chief Monetary Officer
Abraham Jonker is an completed monetary chief within the mining business with virtually 30 years of expertise. Jonker has performed a pivotal position in a number of enterprise recoveries and restructurings and was a key crew member in administration, and on the board degree, within the strategic progress of some public firms. He has participated and overseen the elevating of greater than C$750 million within the type of fairness and debt devices within the mining business. Jonker is a registered chartered accountant in British Columbia, England, Wales and South Africa. He’s additionally a member of the Chartered Institute of Administration Accountants in the UK and holds a grasp’s diploma in South African and worldwide tax from Rand Afrikaans College, South Africa.
Spiros Cacos – Vice-president, Investor Relations
Spiros Cacos has over 20 years of investor relations expertise, working with public mining firms, starting from early-stage exploration and growth to manufacturing. Most just lately, Cacos served as vp of investor relations for First Mining Gold, a Canadian gold growth firm listed on the TSX and OTCQX. It centered on the event and allowing of the Springpole Gold Challenge, one of many largest undeveloped gold initiatives in Canada. Cacos’ prior roles embody serving as vp, investor relations for Group Eleven Sources, a mineral exploration firm centered on advanced-stage zinc exploration in Eire, and as director of investor relations for Nice Panther Mining, a main silver mining firm, listed on the TSX and the NYSE, with two mining operations in Mexico. Cacos holds a Grasp’s diploma in worldwide relations and diplomacy, from the Schiller Worldwide College in Paris and a bachelor of arts from Simon Fraser College in British Columbia.
Todd S. Fayram – Senior Vice-president, Metallurgy
Todd Fayram is a 43-101 certified engineer with a designation in metallurgical engineering. He holds a bachelor of science in mineral processing engineering and a masters of science in metallurgical engineering from Montana Faculty of Mines and Know-how. Fayram has over thirty -five years of expertise, specializing in metallurgy, pyrometallurgy and extractive operations for multi-national mining and metals producers. He has held a number of positions with worldwide mining and metals firms together with initiatives in United States, Canada, Mexico, Argentina, and Australia. Skilled and educated in mineral processing, he additionally has intensive industrial expertise in mining, crushing, mineral processing, hydrometallurgy, electrometallurgy, pyrometallurgy, environmental affairs and mineral economics.
Dr. Corby G. Anderson – Director
Dr. Corby Anderson is a registered engineer with almost 40 years of world expertise in industrial operations, corporate-level administration, consulting, engineering design, analysis, and training. He’s an knowledgeable within the fields of extractive metallurgy, mineral processing, waste minimization, and recycling. He holds a bachelor of science in chemical engineering from Montana State College and a grasp’s of science diploma.
Adam Knight – Challenge Supervisor
Adam Knight is an expert mining engineer, lively within the mining business since 1994. Earlier than becoming a member of Century Lithium, he labored as a marketing consultant and challenge supervisor for Sensible Mining, situated in Elko, Nevada. He was vice-president of operations for EMC Metals till 2015. Earlier than that, Knight labored in numerous operational capacities for Teranga Gold, Premier Magnesia, and AngloGold.
Daniel W. Kalmbach – Supervisor, Geology
Daniel Kalmbach has practiced geology for over 21 years and has held numerous positions with non-public and public firms within the area of geology. This expertise consists of greenfield and generative exploration, growth, mining, and environmental science. He has supported and authored a number of technical studies on mineral properties.