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Lake Resources gets environmental approvals for Kachi lithium project
The environmental Impact Declaration clears the Kachi site for front-end engineering design, after consultation and interagency reviews, and lifts Lake Resources shares in Sydney by 10.5% to A$0.04.
Lake Resources N.L. said it has obtained environmental approvals for its Kachi lithium brine project in Argentina’s Catamarca Province, with the Catamarca ministry of mining issuing the Environmental Impact Declaration, or DIA, after a statutory public consultation phase and interagency evaluations were completed.
With the DIA in hand, the project is moving to front-end engineering design, or FEED, according to the company, and Lake Resources characterized the approval as improving its position in ongoing commercial discussions with potential strategic partners, off-takers, and export credit agencies.
Mining.com reported that Kachi is now described by the company as one of the few fully permitted, large-scale, independent greenfield lithium brine projects globally to reach this stage.
Lake Resources shares were up 10.53% to A$0.04 by markets close in Sydney, valuing the company at A$107.7 million, and the company said the DIA confirms the project’s engineering design, resource management plan, and sustainability profile meet the environmental and social standard.