Date: 20 February 2019 , 20:02
News ID: 3677
NEWS SERVICE: Non-Ferrous

LiCo Energy Metals withdraws from Chilean lithium project facing community opposition

Following its 2017 notice of force majeure that was ratified in January 2018, Vancouver- based LiCo Energy Metals (TSXV: LIC) announced this week that it has decided to completely drop the Purickuta project in northern Chile.
LiCo Energy Metals withdraws from Chilean lithium project facing community opposition

In a press release, the miner said that management decided to leave Purickuta due to “unworkable property conditions.”

LiCo cites multiple delays associated with its exploration plans on the property over the past 18 months due to opposition from the local indigenous community which the company deems “immense and widespread.” As such, the company believes there is no way the project can be realistically explored or developed in the future by any corporate entity.

Two years ago, LiCo Energy Metals made public its intention to acquire up to a 60% interest in the Chilean property owned by Durus Copper Chile and contained within an existing exploitation concession owned by Sociedad Quimica y Minera (SQM).

Purickuta consists of 160 hectares, and is one of few exploitation concessions granted within the Salar de Atacama, home to approximately 37% of the world’s lithium reserves. According to LiCo, about 22 km southeast of Purickuta, both SQM and Albemarle have large-scale production facilities within a concession granted to the Chilean Economic Development Agency. “These two facilities collectively produce over 62,000 tonnes of lithium carbonate equivalent annually and account for 100% of Chile's current lithium output,” the miner stated.

source: MINING.COM
LiCo Energy Metals Purickuta project Chilean Copper SQM
Top News
Sibanye-Stillwater liable for damages to Appian for .2 billion scrapped mine deals
Sibanye-Stillwater liable for damages to Appian for .2 billion scrapped mine deals
Twelve Days ago
Mobarakeh Steel Co. record holder in quantitative and qualitative production
Mobarakeh Steel Co. record holder in quantitative and qualitative production
Six last month
"Sustainability and innovation in production and development, excellence in culture", the orientation of Mobarakeh Steel Co. to realize the motto of 2024
Six last month
Gianpietro Benedetti, Chairman of Danieli Group, passes away
Gianpietro Benedetti, Chairman of Danieli Group, passes away
Five last month
The entrepreneur Gianpietro Benedetti has died, he was 81 years old
The entrepreneur Gianpietro Benedetti has died, he was 81 years old
Five last month
The President visited the Sungun Copper Complex
The President visited the Sungun Copper Complex
Two last year
Most Like