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Lithium Universe (ASX: LU7) concludes location study for lithium carbonate refinery in Quebec

November 09, 2023 02:26 PM AEDT | By Manisha
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Highlights

  • Lithium Universe has concluded a study to select a location for the optimal lithium carbonate refinery.
  • Four potential sites in the Québec region are being considered under the final assessment.
  • LU7 is in talks for the Bécancour Industrial Park.

Shares of Lithium Universe Limited (ASX: LU7) rose about 5% during the early trading session on Thursday after the company reported completion of a location study for the optimal Lithium Carbonate Refinery site.  

The project is a proposed 16,000 ton/year lithium carbonate refinery, that forms a crucial unit of the company’s Québec Lithium Processing Hub (QLPH).

As part of the location study, different potential locations with over 20 municipalities were evaluated following site location benchmarks from 2021 and 2023. Under the final assessment, four potential sites were considered in the Québec region.


The Four Main Areas of Assessment

Image source: company update

Selection criteria for the site

On grounds of numerous key elements, there are several criteria being considered for the site selection. This includes availability of flat land, logistics capabilities, essential services like electricity, natural gas, and water, consideration of First Nations' interests, waste management, including handling of solid and liquid waste, access to rail, road, and port facilities, labour availability for construction, operation, and maintenance.

Out of the four listed locations, the company has shortlisted areas 2 and 4 because of their logistical advantage. They have good access to port infrastructure. Further, LU7 is focussing on four potential sites in Area 2 following the location study. The sites are located along the river between Montreal and Québec City.

For the Bécancour Industrial Park, Lithium Universe is progressing talks with the Société du parc industriel et portuaire de Bécancour (SPIPB).


Data source: Company update

To know more about the company’s Québec Lithium Processing Hub (QLPH) strategy, click here.

LU7 shares closed the day’s trade at AU$0.041 on 9 November 2023.


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