Minera Salar Blanco, Agrees Strategic Alliance with Mitsui for the Development of Maricunga and Future Developments in Chile - Seite 2

MSB will use its best efforts to utilize new technology related to the DLE currently being studied and tested by Mitsui’s technical partners.

• Further Strategic Collaboration – MSB will collaborate with Mitsui for the development of other lithium related businesses in the country by introducing efficient and environmentally friendly processing technologies. In this context, MSB will commit to collaborate with Mitsui and its technical partner to facilitate the development and testing of the DLE technology at the Maricunga Salar, and provide a broader platform for the promotion of this technology.
  

Terms and details of the definitive agreements will be finalised after completion of all necessary due diligence and transaction structuring and subject to each party’s internal approval.

Lithium Power International’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented:

“We are incredibly pleased to have reached a mutually beneficial MOU with Mitsui. The MOU is comprehensive, and it sets a framework for the Stage One of the Project development to proceed with the backing of a world-renowned partner. We look forward to finalising the definitive agreements with Mitsui and working with them on mutually beneficial lithium projects and positive outcomes for the Chilean lithium industry.

About Minera Salar Blanco (MSB)

MSB is the owner of a lithium and potash project in Chile’s III Region, at the Maricunga Salar, which is in a very advance stage of development, having received its environmental approval on February 4th, 2020 by the Chilean authorities (Resolution #94) and with its definitive feasibility study released in January 2019, now being updated. The Project is in its first stage denominated the “Stage One” with a nameplate capacity of 15,000 annual tonnes of high purity lithium carbonate (the “Products”) over a 20-year mine life. It also provides significant future expansion potential from subsequent stages to be developed over the other part of the mining concessions owned by MSB.

About Mitsui & Co. Ltd

Mitsui & Co., Ltd (8031: JP) is a global trading and investment company with a diversified business portfolio that spans approximately 64 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.

Mitsui has over 5,600 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries.

CONTACT: For further information, please contact:

Cristobal Garcia-Huidobro – CEO; or Andrew Phillips – CFO

Lithium Power International 
E: [e-mail] 
Ph: [phone] 
www.lithiumpowerinternational.com 
@LithiumPowerLPI

For Australia and Asian investor relations enquiries:

Jane Morgan Management
Jane Morgan – Investor and Media Relations 
+ 61 405 555 618 
[e-mail]

For U.S. and other international investor relations enquiries:

Arrowhead Business and Investment Decisions, LLC
Thomas Renaud | Managing Director
Office: [phone]
[e-mail]