Lithium Ionic requests licenses for US$230mn Brazilian mine

Canadian junior Lithium Ionic filed a request for an environmental and installation license to advance with its U$230mn plan to develop a lithium mine in Brazil's Minas Gerais state.

The mine would be built at the firm's Bandeira deposit, which is part of the Itinga project. 

The request for the concomitant license (LAC in Portuguese) was submitted to Minas Gerais state authorities, where most of Brazil's lithium projects are being developed.

The state government recently recognized all the company’s properties and initiatives, including Bandeira, as “priority projects”, which is expected to accelerate the license review process for project construction and operations.

“We are pleased that Minas Gerais state officials recognize the importance of supporting the development of the battery materials sector in the region, and we are confident that having our project on their priority business development list will result in our application being evaluated accordingly, without delay," Blake Hylands, CEO of Lithium Ionic, said in a statement.

According to the company, the preliminary economic assessment for Bandeira, announced last month, outlined an underground mining operation with a reduced environmental footprint relative to other development options, allowing it to obtain the licenses more rapidly.

The Bandeira project covers 175ha, or around 1% of Lithium Ionic's 14,182ha land package in the so-called Lithium valley area of Minas Gerais state. Two lithium producers already operate in the region.