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Appian Capital enters Brazil's lithium segment with royalty deal
![Appian Capital enters Brazil's lithium segment with royalty deal](https://cdnimg.bnamericas.com/CwhPsaxpLNJARWSSTdzXvwCNrTpvhNZpgIfnycbamMAqyljNESOfpZEJaWsZkhNC.jpg)
British investment firm Appian Capital Advisory LLP reached an agreement to enter Brazil’s lithium segment.
The firm concluded a royalty agreement with Lithium Ionic, owner of the Bandeira project in Minas Gerais state.
"Lithium Ionic Bandeira Corp. has executed a definitive royalty agreement with ANRF LI (JSY) Ltd., an affiliate of Appian, granting a 2.25% gross revenue royalty in exchange for upfront cash consideration of US$20mn," the Toronto-based junior said in a statement.
"Lithium Ionic intends to use the proceeds from the royalty to advance the development and construction of its world-class Bandeira lithium project."
Appian already has interests in Brazil’s nickel, copper and cobalt segment though Atlantic Nickel; the country graphite segment through Graphcoa; and in copper and gold through Mineração Vale Verde.
The Bandeira project is located in Brazil’s so-called Lithium Valley where Companhia Brasileira de Lítio (CBL), Sigma, Atlas Lithium, Latin Resources and Deep Rock are also active.
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