Managers Nanotechnology Summita Canadian mining technology company Lithium Sustainable, they expressed to the national government their desire to land in Argentina as suppliers of technology, innovation and related studies Lithium.
During a meeting with the advisor Diana MondinoCEO of the company, Amanda HallHe referred to the strategic agreement recently signed with the Australian company Energy minerals To cooperate in the development of a mining project in the province of Salta, with a focus on accelerating production Lithium in it Incahuasi salt flats.
As much as he could know Energy reportMondino stressed the importance that the activity represents for the state, as well as its importance in terms of the energy transition, especially with regard to the exploration and exploitation of natural resources. Lithium. At the same time, he provided details on the regulatory changes in favor of foreign investments in general and mining investments in particular, which emerged from the draft law titled “Foundations and starting points for the freedom of Argentines.”
Mondino explained that the modernity introduced by the so-called omnibus law is just that The hydrocarbons and mining sectors will be the only sectors that will not suffer from increased export duties. They will keep what they currently have. For all other products, it rises to 15% with exceptions. how The media revealed this Which stipulates in Article 204 of the project: “Maintaining the validity of currently applicable export rights for hydrocarbons and mining materials.” Today, gold and silver, with operational deposits although lower, hold 8%, and for lithium 4.5%.
But they also explained to them that the law also proposes the establishment of an institution Incentive System for Large Investments (RIGI) For projects that involve the acquisition, production, construction and/or development of assets that are and will be affected by activities In the long term, this is a need that the mining sector has historically raised. These “large investments” must have a minimum investment amount and will include companies seeking to invest in infrastructure and technology.
The deadline to join RIGI is Two years after the reforms came into effect, But the executive authority may extend the period to benefit from RIGI for up to two years only once.
To select investments, you can use Single project vehicles (VPU), a new form of company whose sole and exclusive objective must be to implement a single investment project acceptable to RIGI. VPUs include companies and branches set up by companies registered abroad, temporary unions and other union contracts or dedicated branches.
Agreement to produce lithium sustainably
plan Nanotechnology Summit And Energy minerals Established joint venture website. Shared Risk Waiver Incahuasi salt flats “It is part of an alluvial fan that contains high-quality brines with stable lithium concentrations and low impurities,” they said in a statement.
Summit agreed with the Australians in August 2023 to apply its technology and engineering in a range of pilot tests as well as invest… 3 million US dollars in two tranches to establish the joint project and financing exploration activities in Incahuasi, in exchange for shares in it Energy minerals And a 30% stake in the new company.
The agreement stipulates that Canadian technology will have the option to earn up to 45% in the joint venture by funding a full feasibility study, which includes providing the mineral extraction process. DLE is viable. If it achieves certain performance targets, Summit will acquire a 4.9% stake in the company, up to a maximum possible stake of 49.9%.
The two companies indicated that Incahuasi salt flats Clean and shallow have promising potential to contribute to increased production Lithium Argentina It is adjacent to previously owned assets Allkem (already merged with Livent to become Arcadium) and China's Ganfeng Lithium.
“We are pleased with our proposed relationship with Summit Nanotech Accelerating the development of the Incahuasi salt flat, one of our key salt lithium assets within the Salta project area. “After evaluating a range of DLE technology options, we see Summit as the ideal partner to help us unlock and maximize the value of Incahuasi for the benefit of our shareholders,” Power Minerals CEO commented. Menna Habib said.
What is DLE technology for lithium extraction?
The CEO emphasized that the combination of Summit's technology, which includes cutting-edge patented DLE technology, which exhibits excellent environmental and sustainability attributes, and Power's proprietary Incahuasi brine, provides the opportunity for the parties to work together to Production of commercial quantities of high-quality lithium.
Incahuasi salt solutions work perfectly with Summit's sustainable DLE technology, denaLi TM, a patented process that extracts lithium from brine using a special sorbent and water recovery solution. The deal combines Summit's world-class technological process with Power's expertise in systematic exploration and project development.
the Denali technology (Registered trademark) and Summit's engineering expertise will enable the partnership to efficiently supply the large quantities of high-quality lithium needed to drive the global energy transition in an environmentally conscious and community-oriented way, they said.
For this part, Amanda Hall He expressed at the time that his company's goal was to increase its production Lithium With innovation and responsible mining practices. “We are very confident in the outstanding ability of Summit’s technology to unleash these resources and more, more effectively and economically than any other DLE technology,” he said.
