Galan Lithium has announced a transformation partnership with United States lithium expert Authium to secure a binding funding and offtake package that will propel the company’s flagship Hombre Muerto West (HMW) lithium brine project toward first production. The deal includes a fully funded and operated plant to be supplied by Authium, eliminating a substantial US$41.5 million (A$65.5M) in capital expenditure for Galan. Additionally, Authium is expected to slash operating costs by 18 per cent on its previous feasibility study projections, cementing Galan’s position as a low-cost lithium producer for its phase one production.
SOURCE: THE WEST