Bacanora Minerals Ltd of Calgary, AB has announced completion of a positive pre-feasibility study (PFS) for its Sonora lithium project in northern Mexico. The study highlights the strong potential of producing up to 35,000 tonnes/year of battery grade lithium carbonate at Sonora. There is also the potential for producing up to 50,000 tonnes/year of co-product potassium sulfate. Phase 1 of the project comprises production of 17,500 tonnes of lithium carbonate at a capital cost of US$240 million. Phase 2 would see an expansion to 35,000 tonnes/year at a cost of US$177.1 million.
Peter Secker, Bacanora’s CEO, said, ”The PFS supports that Sonora is well placed to become one of the next major lithium producers, supplying fast growing industries, such as electric vehicles, smartphones, and energy storage. The next key step in the development of Sonora is a feasibility study, which is fully funded and expected to be completed in first quarter 2017. In tandem with the feasibility study, we will be seeking additional off-take partners for Sonora’s lithium carbonate, which will represent a major milestone as we focus on commercializing the project. With recent lithium price increases in the Asian market we believe that Sonora is a highly compelling project with which to generate value for shareholders.