Australia's OzAurum Resources acquires lithium project in Brazil

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AK&M 18 September 2023 10:03

OzAurum Resources Ltd, an Australian exploration company, has entered into a binding agreement to acquire the Linopolis Jaime lithium project in the state of Minas Gerais (Brazil). This is reported in the OzAurum press release.

The transaction is of strategic importance for OzAurum, complementing the implementation of the Mulgabble and Patricia Gold projects in Western Australia. 

Jaime Linopolis has significant potential, as it is being developed within the Sigma Lithium project with a production capacity of 107,000 tons per year. The state of Minas Gerais has an excellent infrastructure with a closed highway network, a hydroelectric power station and enough water. Lithium concentrate is delivered by trucks to the port of Vitoria (Brazil) and exported to different countries.

Brazil is rapidly becoming a first-tier jurisdiction for the production of lithium in hard rocks. CBL Project (Companhia Brasileira de Litio) It is located 200 km north of the OZM project area with reserves of 4 million tons. Lithium carbonate is produced at the CBL Divisa Alegre plant with a capacity of 1,500 tons of lithium per year.

OzAurum Resources Ltd is an Australian exploration company with promising gold mining projects and a project in Minas Gerais (Brazil) for lithium mining. The Mulgabbie North and Patricia projects remain key in the company's plans. The headquarters is located in West Kalgoorlie (Australia).