Standard Lithium Ltd is an exploration and development entity engaged in the production of Lithium brine properties in the United States.
The exploration company aims to create a stable stream of revenue generation due to the growing demand of lithium and its huge potential in the global untapped resource market.
The lithium development enterprise is a publicly traded firm on the TSX Venture Exchange with ‘SLI’ ticker.
Standard Lithium Corp claims to leverage infrastructure and operational expertise of its brine processing facilities to lead a new wave of lithium production in the United States reportedly.
The company aims to produce and develop new lithium resources in a cost-effective manner using its proprietary technologies and strategic partnerships.
It claims to generate majority revenue through its flagship project that covers more than 150,000 acres of land, namely Lanxess Project in Southern Arkansas. This project is located in a productive Smackover brine region, wherein Standard Lithium has secured strategic resource access through agreements with the largest brine operator in that region.
The firm says that the project has access to highly skilled local workforce, low-cost power, and ample amount of water resources. With this infrastructure in place, the mining firm aims to speed the development of the Lanxess Project.
According to the Arkansas Oil & Gas Commission, Arkansas produces around 9.4 billion gallons of brine in a year. Standard Lithium has applied for a patent to directly extract lithium through a process called “LiSTR”. This process is supposed to reduce the recovery time of lithium extraction from brine from one year to mere few hours reportedly.
The company claims that the process not only saves the time but is environment friendly too, compared to the traditional evaporation pond process. However, it said that the patent is still pending for approval.
Standard Lithium has signed a joint venture agreement with a global specialty chemical company, Lanxess AG, to commercially produce battery grade lithium compounds from brine extracts. The joint venture allowed Standard Lithium to demonstrate its LiSTR technology on the premises of Lanxess southern brine processing plant.
Standard Lithium aims to benefit from this partnership as it can have access to Lanxess’ infrastructure and lithium extraction rights.
Under a recent preliminary economic assessment, the firm says aims at production of 20900 tons of lithium carbonate from its flagship project.