Lithium Universe (ASX: LU7) bolsters Bécancour Lithium Project with procurement strategy

May 28, 2024 04:44 AM AEST | By Aditi Sarkar

Lithium Universe (ASX: LU7) bolsters Bécancour Lithium Project with procurement strategy — Image source: Company update

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Highlights

LU7 plans to deploy “same equipment, same supplier” strategy for the Bécancour Lithium Project.

Employing proven equipment and dealing with same suppliers is aimed at fast-tracking engineering work.

The company is targeting lower lead times and capital costs for the project.

LU7 can use alternative suppliers nearby Canada if original suppliers don’t exist anymore.

Lithium Universe Limited (ASX: LU7) is all set to establish “same equipment, same supplier” procurement scheme for the Bécancour Lithium Project. In a recent announcement, LU7 updated that the company’s CEO and board members visited Hatch Ltd’s Shanghai procurement office to establish the procurement strategy for the Bécancour lithium project.

Lithium Universe seeks to replicate the procurement achievements in Jiangsu at the Bécancour Lithium Refinery in Québec. With the deployment of the “same equipment, same supplier” procurement strategy, the company aims to fast-track the definitive feasibility study (DFS) process and build cost-effective lithium refineries by using verified equipment from reputed suppliers.

According to Iggy Tan, the Chairman of LU7, a crucial element of this strategy involves employing familiar equipment and reputable suppliers previously engaged by the company. By adhering to proven methods, the company aims to streamline the engineering process and facilitate smooth coordination among all involved parties.

The share price of LU7 was AU$0.018 at the time of writing on 28 May 2024.

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