Home Argentina national Neo Lithium obtains EIA approval for 3Q project in Argentina

Neo Lithium obtains EIA approval for 3Q project in Argentina

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The Canadian company Neo Lithium has received the approval of an Environmental Impact Assessment (EIA) for the construction and operation of the Tres Quebradas lithium brine project (3Q project) in the province of Catamarca, in Argentina.

The company said its wholly owned subsidiary Liex has received a “Declaracion de Impacto Ambiental” (DIA) from the Environmental and Mining Authority of the Province of Catamarca.

According to Neo Lithium, the DIA has approved Liex’s EIA for the construction and operation of the project.

In a press release, Neo Lithium said, “The issuance of the DIA confirms that the EIA complies with the standards and regulations of national and provincial mining law and contains customary requirements to keep the DIA in good standing.

“As part of the issuance of the DIA, the company has agreed with the province of Catamarca to fund an infrastructure trust to be administered for the benefit of the 3Q project and its affected areas.”

The EIA for the construction and operation of the mine was defined in the feasibility study, which was completed in October 2021.

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The 3Q project covers an area of ​​approximately 35,000 ha.

Based on a study, the project is expected to have an average annual production of 20,000 t lithium carbonate equivalent (LCE) during the first 20 years of operation. Production is expected to decrease thereafter.

According to estimates, the project has proven and probable reserves of 1,671,900 t of LCE with an average of 786 mg / l of lithium for the 50 years of the mine life, and of 769,613 t of LCE with an average of 912 mg / l of lithium for the first 20 years.

In October 2021, Chinese mining company Zijin Mining Group agreed to buy Neo Lithium for C $ 960 million ($ 770.45 million).

Neo Lithium shareholders are offered C $ 6.50 ($ 5.22) per share.

While the shareholders of Neo Lithium have approved the transaction, Zijin is in the process of seeking approval of the transaction from the relevant authorities in the country.

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