- After nearly 12 months of due diligence, Arizona Lithium (AZL) has selected the US state of Arizona to build its research and processing facility, part of its Big Sandy lithium project
- The company has accepted a US$1 million (A$1.3 million) grant from the Arizona Commerce Authority in support of the development
- The new facility is expected to bring around 300 new jobs and will focus on technological advancements in lithium processing
- AZL is expecting the research facility to be operational this year
- Company shares Are up 4 per cent and traded at 13 cents per share at 11:54 AEST
Arizona Lithium (AZL) has committed to the US state of Arizona to build its research and processing facility, part of its Big Sandy lithium project.
The company has accepted a US$1 million (A$1.3 million) grant from the Arizona Commerce Authority (ACA).
State law has allowed the project to receive grant funding and other statutorily obligated tax exemptions over the life of the project.
AZL will use statutory business expansion and attraction financial programs that could amount to more than US$100 million.
The new facility is expected to bring around 300 new jobs, AZL said, and will be located in Phoenix. It will focus on technological advancements in lithium processing and aims to advance the battery materials industry in Arizona.
Managing Director Paul Lloyd said he was pleased to choose the state of Arizona for the facility due to its low cost, low regulatory environment which is “primed for growth.”
“Arizona is committed to be the most pro-business government in the United States. We have spent nearly 12 months undertaking due diligence regarding site selection for our facilities, and the business environment in Arizona solidified our decision in selecting this particular state,” he said.
AZL is expecting the research facility to be operational this year.
On the market, company shares were up 4 per cent and traded at 13 cents per share at 11:54 AEST.