DJ Rare Earth Minerals PLC Battery Grade Lithium Produced at Cinovec Project
RNS Number : 6653R
Rare Earth Minerals PLC
13 December 2016
Rare Earth Minerals Plc
("Rare Earth Minerals", "REM" or "the Company")
Battery Grade Lithium Carbonate produced from the Cinovec Lithium Project
Rare Earth Mineral Plc (AIM/ISDX: REM; OTC: REMMY) is pleased to report that >99.5% pure lithium carbonate has been manufactured from the Cinovec mica-concentrate using an industry proven sodium sulphate roast-based flow-sheet.
REM holds a 20.76% economic interest in Cinovec, via its interest in European Metals Holdings Limited ("EMH"). Cinovec contains the largest lithium resource in Europe and one of the largest undeveloped tin resources in the world.
The roasting flow-sheet reflects a simplified version of the well-proven technology currently employed by a number of operating lithium carbonate plants around the world to convert spodumene concentrate to lithium carbonate.
The full EMH release is available at: http://europeanmet.com/assets/AIM__-_13_Dec_2016_-_Lithium_Carbonate.pdf .
Highlights from the EMH release:
-- Production of >99.5% lithium carbonate -- Roast recoveries of 87% achieved -- Key roasting reagent is recycled back to the roast, lowering process costs
-- Minimal leaching of unwanted impurities, resulting in simpler precipitation of battery grade lithium carbonate
-- Commencing production of lithium carbonate samples for potential offtaker and end user testing.
Kiran Morzaria, the Chief Executive Officer of REM, commented:
"We are extremely pleased with the progress being made at Cinovec. The production of battery grade lithium from a well established process route, is a significant milestone in the commercialisation of the largest lithium deposit in Europe."
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For further information, please contact:
Rare Earth Minerals plc
Andrew Suckling +44 (0) 207 440 0647
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
Square1 Consulting +44 (0) 207 929 5599
About Rare Earth Minerals
Rare Earth Minerals invests across the globe, principally in lithium mining projects. Its primary strategy is take significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.
The Rare Earth Minerals board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. REM's goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.
Rare Earth Minerals are major shareholders of the Sonora Lithium Project in northern Mexico and the Cinovec Lithium and Tin Project in the Czech Republic. Rare Earth Minerals portfolio also includes significant lithium-based investments the USA and Australia. The Mexican and Czech deposits have published Indicated and Inferred Mineral Resources of 11.3 million tonnes of Lithium Carbonate Equivalent.
This information is provided by RNS
The company news service from the London Stock Exchange
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December 13, 2016 02:30 ET (07:30 GMT)