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- Through its subsidiary Extremadura New Energies, Infinity Lithium (INF) acquires the rights and land access for the development of its San Jose lithium project
- The land rights were secured for a 35-year lease covering the life of the project at an acquisition cost of $3.4 million
- The historic agreement marks the single largest landholding for a designated lithium chemical conversion plant spanning more than 36 hectares
- The company is increasing activities at multiple project-specific-fronts following the granting of its PESE and positive responses from the regional government regarding its EIA scoping document
- INF shares last traded at 11.5 cents
Through its subsidiary, Extremadura New Energies, Infinity Lithium (INF) has acquired the rights and land access for the development of its San Jose lithium project.
The long-term land rights were secured for a 35-year lease, which covers the life of the project, at an acquisition cost of €2.1 million (A$3.4 million).
The acreage included in the agreement is already zoned as “Industrial” under local urban planning requirements and is located within the granted exploration permit Extremadura S.E. (‘PESE’), which includes the San Jose lithium deposit.
The historic agreement marks the single largest landholding for a designated lithium chemical conversion plant, spanning more than 36 hectares.
The industrial-zoned land is adjacent to a sealed road and other “key” infrastructure, representing a significant advantage for the company to accelerate ongoing developments at San Jose.
“The finalisation of the land agreement is another major milestone for San Jose and the ongoing momentum continues in collaboration with major local stakeholders,” Extremadura New Energies CEO Ramón Jiménez said.
“We are pleased to have finalised the agreement to secure rights to an essential land package for the project and provide visibility and precedent as we advance to the next stages of development.”
The company has increased activities at multiple project-specific fronts following the granting of its PESE and positive responses from the regional government regarding its EIA scoping document.
INF shares last traded at 11.5 cents.
