Infinity Lithium Provided Update On The Lithium Hydroxide Scoping Study

On 16 October 2018, Infinity Lithium Corporation Limited (ASX:INF) made an announcement regarding Lithium Hydroxide and San Jose update. There is a demand for higher performance battery cathodes in lithium battery market, and it is expected that lithium hydroxide will replace lithium carbonate to become the main product in the rechargeable battery market by 2024.

The company has found that the hard rock lithium deposit of San Jose Projects, has a natural advantage over brine producers due to a straight conversion process through a lithium sulphate transitional pathway. Industry leaders Wave International initiated a lithium hydroxide have started a lithium hydroxide scoping. Moreover, the results reported to date and interaction with industry participants have led the Company to commission further work in relation to the ability to deliver either lithium sulphate or lithium hydroxide if modifications to the back end of the process flow sheet are made. Due to the increased work requirements of detailed operating and capital cost estimates for two products, the release of the lithium hydroxide scoping study has been delayed.Â

As per the study till now, Infinity has an ability to vary the type and ratio of specific sulphate reagents in the mixing stage pre-roast and the study has further identified that the leached material goes through a lithium sulphate stage regardless of whether lithium carbonate or lithium hydroxide is selected as the final product.

The European leaders are also recognizing the importance of the LIB industry as the European Union and various European countries continue to establish targets to phase out Internal Combustion Engine (ICE) vehicles, with European automakers such as Volvo, Volkswagen, BMW and Daimler publicizing ambitious plans to produce primarily electric vehicles. Europe recognizes the importance of maintaining and reinforcing their position in the automobile industry, and the EU continues to address the requirements to be one of the dominant players of electric vehicle production.

As lithium hydroxide demand is continuously growing faster than lithium carbonate, the company continues to progress the lithium hydroxide scoping study in direct response to the evolving battery chemicals market. San Jose Project has an advantageous process route to produce lithium hydroxide through a lithium sulphate pathway and benefits from the availability of world-class infrastructure close to the project area.

 LIB makers are moving towards higher energy density and nickel-rich cathodes in battery manufacturing a majority of recent global investments in lithium chemical plants have been in lithium hydroxide production. The San Jose Project maintains significant strategic importance and is ideally located to participate in the European value chain with a vertically integrated project located in Spain.

In the past six months, the share price of the company decreased by 46.96 percent as on 16 October 2018. INF’s shares traded at $0.057 with a market capitalization of $11.58 million as on 17 October 2018 (AEST 04:00 PM). With this news, the stock tumbled 6.557 per cent with the intra-trading volume of 380,766.

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