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Brazil Launching the Lithium Valley

15 May 2023 12:50
ASX: LRS

Brazil continues to position itself as a major player in the ongoing lithium renaissance turning the global commodity market on its head, with the country’s teaming up with a number of pioneer lithium explorers to launch the Lithium Valley Brazil initiative.

Chief executive and Co-chairperson of Brazil-focused lithium giant Sigma Lithium, Ana Cabral-Gardner, stood alongside Romeu Zema, Governor of the State of Minas Gerais, Vitor Saback, Deputy Minister of Mines and Energy, to ring the NASDAQ opening bell to celebrate the launch of this game-changing initiative.

Building a Battery Metal Bastion

Aimed at attracting capital markets and private investments into Brazil’s growing lithium battery supply chain, the Lithium Valley Brazil initiative will work to foster significant increases in the production of high-purity, battery-grade lithium by streamlining the development and construction of projects in the lithium mining and processing industries.

The initiative will also work to keep Brazil’s lithium industry environmentally sustainable, facilitating the development of a green industrial footprint for lithium by streamlining the permitting process for environmentally sustainable projects.

The namesake “Lithium Valley” is located in the state of Minas Gerais’ Vale do Jequitinhonha region and alongside production increases, those involved with lithium valley will also work to advance social development goals for the region, with the private and public sector developing infrastructure projects focused on sanitation, health and education for people of Vale do Jequitinhonha.

Joining Forces

The initiative is backed by four major players, Sigma Lithium, which is forecasted by market research giant Benchmark Mineral Intelligence to be the world’s 8th largest producer of the battery metal by 2025 with its Grota Do Cirilo Project in Minas Gerais currently hosting an MRE of 106.8Mt @ 1.43% lithium.

Also backing the initiative is Australian-listed Latin Resources, with Latin’s Managing Director Chris Gale present at the event. Latin has been turning heads recently as it moves closer and closer to delivering a resources upgrade to its already significant 13.2Mt @ 1.2% Li2O Colina deposit.

Latin’s presence demonstrates the Company’s continued collaboration with the Brazilian government and its dedication to growing the region’s lithium industry, with the Company also recently entering into a non-binding Memorandum of Understanding with the state of Minas Gerais’ Invest Minas Organisation to help develop the regions battery metal sector in exchange for streamlining of project development.

Ringing In

Speaking at the event, Cabral-Gardner said: “The growth of Lithium Valley Brazil will be our collective contribution to a greener planet and a more just society. It will bring prosperity to the people of Vale do Jequitinhonha by growing the lithium industry while ensuring the social economic development of the entire region.”

“Lithium Valley Brazil is just as much about producing the lithium as it is about the people. All of us are embracing the Lithium Valley as partners in bringing lithium from Brazil to the world, driven by capital markets and the private sector. The lithium valley is our legacy. Our children and grandchildren will be proud of us in the future.”

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