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American Lithium Corp (AMLI) has received confirmation from Peru’s top court regarding its asset titles, clearing the path for the establishment of the nation’s inaugural lithium mine by 2027. Despite a typically sluggish permitting process, the Vancouver-based miner’s project is now set to proceed.
Simon Clarke, the CEO of American Lithium, expressed his optimism, stating, ‘The Peruvian Judicial System’s backing is a positive development. Our company has retained title over the disputed concessions, which are a minor portion of our leases.’
Advancements in the Falchani Lithium Project
The subsidiary in Peru has made significant progress with the Falchani lithium project. Recent updates reveal a resource estimate of 5.53 million tonnes of lithium carbonate equivalent (LCE), marking a 476% increase since March 2019.
Located in Puno, the Falchani deposit is ranked as the world’s sixth-largest hard-rock lithium reserve. The project is anticipated to attract an $880 million investment to one of Peru’s most economically challenged areas.
American Lithium’s Vision for Green Energy
American Lithium envisions Peru as a pivotal player in the US green energy revolution, a stance that resonates with the Biden Administration’s direction. Treasury Secretary Janet Yellen has emphasized the importance of supporting Latin American lithium supply chains to aid North American car manufacturers.
Clarke highlighted the potential impact of Peru’s lithium sector on the ‘Lithium Triangle’—comprising Bolivia, Chile, and Argentina—which currently holds about 65% of the world’s lithium reserves. He suggests that with Peru’s entry, the region could be rebranded as the ‘Lithium Square’.
Analysts predict that including Mexico and Brazil’s lithium reserves could push the region’s share to nearly 70% of global reserves. This shift could restructure the global economic landscape around the energy transition and provide a robust revenue stream for Latin American economies, according to a CELAG study.
Company Website: https://www.americanlithiumcorp.com
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