International Battery Metals Ltd. (CSE: IBAT) has announced a pivotal term sheet signing, marking a significant leap forward in lithium extraction technology. Set to revolutionize lithium production, the company’s modular direct lithium extraction plant will be heading to a prominent customer in the western United States.
Revolutionizing Lithium Extraction
This strategic partnership will deploy IBAT’s cutting-edge modular plant, utilizing selective absorption media, vastly reducing chemical usage and waste while reclaiming over 98% of process water. The customer, an esteemed metals and mineral producer, is eyeing an initial production target of 4,000 metric tons of battery-grade lithium carbonate per annum.
Optimizing Future Production
IBAT is set to kickstart the plant mobilization, eyeing a production increase to 8,000 metric tons annually. As the first of its kind in North America, the plant integrates seamlessly with the customer’s existing operations, offering innovative solutions for lithium extraction challenges.
Financial Details and Commercialization
The agreement outlines mobilization fees, cost sharing for commissioning, and optimization efforts. Following the initial commissioning, IBAT will gain from monthly rentals and royalties tied to production and sales volumes.
John Burba, Founder and CTO, and Garry Flowers, Co-CEO, jointly expressed excitement over the commercialization progress and the synergistic relationship with their customer. Michel Libor, Co-CEO, highlighted the significance of this milestone in generating the company’s first commercial revenue and enhancing business operations.
About the MDLE Plant’s Innovation and Impact
The MDLE Plant, initially developed in Louisiana, stands as a testament to IBAT’s dedication to innovation and sustainability. With an assurance of operational excellence and minimized environmental impact, the company is poised to deliver lithium chloride with unprecedented efficiency.
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