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Ganfeng ups stake in giant Mexico lithium clay project

Feb 1, 2021

Source: https://www.mining.com/ganfeng-signs-new-jv-agreement-for-sonora/

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The Sonora project is expected to produce 35,000 tonnes of lithium per year at full tilt. (Image courtesy of Bacanora Minerals.)

Bacanora Lithium plc (LSE: BCN) announced on Monday that Ganfeng Lithium signed a new joint venture agreement in connection with its investment in the Sonora project in Mexico, following the exercise of its option to increase its stake in the project from 22.5% to 50%.

With a Measured plus Indicated Mineral Resource estimate of over 5 million tonnes (‘Mt’) (comprising 1.9 Mt of Measured Resources and 3.1Mt of Indicated Resources) of lithium carbonate equivalent and an additional Inferred Mineral Resource of 3.7 Mt of LCE, Sonora is regarded as one of the world’s larger known clay lithium deposits.

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The Sonora project is expected to produce 35,000 tonnes of lithium per year at full tilt. (Image courtesy of Bacanora Minerals.)

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