Copper News Hubb
Advertisement Banner
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact
No Result
View All Result
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Metal & Minerals Industry

Atlas Lithium signs lithium concentrate MOU with Japan’s Mitsui

admin by admin
January 19, 2023
in Metal & Minerals Industry


Atlas will use the offtake funding to build the proposed lithium concentrate facility. Credit: Stefan Schweihofer from Pixabay.

US-based mineral exploration company Atlas Lithium and Japan’s Mitsui & Co. (Mitsui) have signed a memorandum of understanding (MoU) that gives the latter purchase rights for Atlas’ future lithium concentrate production.

Under the MoU, Atlas Lithium is entitled to receive up to $65m in funding from Mitsui on achieving certain milestones.

In exchange, Mitsui will have the right to acquire up to 100% of Atlas Lithium’s production from its planned facility with an output capacity of 150,000tpa of lithium concentrate.

Atlas Lithium plans to use the offtake funding for the construction of the proposed lithium concentrate facility.

The US firm said in a statement: “Lithium concentrate produced by the plant would then be available for purchase by Mitsui at a price generally based on the then-prevailing market price.”

Atlas Lithium chairman and CEO Marc Fogassa said: “Our lithium assets are world-class and therefore we are enthusiastic about the prospects of a long-lasting and mutually rewarding partnership with such a well-known and global-reaching company as Mitsui.”

The MoU also allows the two firms to collaborate in other strategic areas.

Atlas Lithium is working on advancing and developing its 100%-owned hard-rock lithium project comprising 52 mineral rights in Lithium Valley, Minas Gerais, Brazil.

In November 2022, Bloomberg News reported that Saudi Arabia’s Public Investment Fund (PIF) and Mitsui were considering a minority stake purchase in the nickel and copper operations of Brazilian firm Vale.





Source link

Previous Post

CHART: Uranium’s third bull market since 1968 has further to run

Next Post

Tanzania’s President Samia Suluhu Hassan Calls For global Attention On Africa For Energy Solutions

Next Post

Tanzania's President Samia Suluhu Hassan Calls For global Attention On Africa For Energy Solutions

Recommended

BCM to buy 100% stake in Thompson Knolls Project in US

1 month ago

‘Intransigent’ creditors scuttle Great Panther’s planned sale of Peruvian holdings to Newrange Gold

2 months ago

Osino gets 20-year mining licence for Namibian gold project

3 months ago

Fresnillo begins full load commissioning of Juanicipio project

1 month ago

Types of Magnetic Metals (LIST)

4 weeks ago

ERG, Gécamines resume Boss Mining operations in Congo

2 months ago

© 2022 Copper News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact

© 2022 Copper News Hubb All rights reserved.