American Lithium Corp. (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) has been notified of petitions filed to the Supreme Court of Peru by INGEMMET and MINEM, challenging the ownership of 32 concessions awarded to the company’s subsidiary, Macusani Yellowcake. These concessions represent approximately 18% of the company’s holdings on the Macusani Plateau.
Supreme Court of Peru to Consider American Lithium’s Concession Dispute
The Supreme Court, which usually presides over cases where laws may have been misinterpreted or national security is involved, will now deliberate the merits of INGEMMET and MINEM’s petitions. However, the legitimacy of the title awarded to Macusani has been upheld by previous court rulings, leading the Company to believe that the Supreme Court will also reject these petitions.
Court Rulings Consistently Favor American Lithium
In all instances, the superior legal rulings have favored the Company, culminating in a decisive judgment from the Superior Court. Superior Court’s findings have fully refuted the claims presented by INGEMMET and MINEM.
Significance of Affected Concessions
The contested concessions crucially underpin the Macusani region’s development efforts as part of the transition to sustainable energy, with the Falchani lithium project poised to place Peru as a key contributor in the field of critical minerals.
American Lithium’s Stance on the Proceedings
Simon Clarke, the CEO, has expressed confidence in the justice system’s ability to recognize the baselessness of the petitions and reaffirm the Company’s rightful ownership. The Company continues to develop its assets aggressively and intends to protect its interests vigilantly.
About American Lithium’s Projects
American Lithium is dedicated to the responsible development of its TLC lithium project in Nevada and Falchani lithium along with Macusani uranium projects in Peru. All projects, with strong preliminary economic assessments and strong community support, show significant expansion potential.
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