- Lake Resources (LKE) has doubled its production target at the Kachi Lithium Brine Project in Argentina
- The lithium developers are now expecting production to be at 50,000 tonnes per year of lithium carbonate equivalent
- The increase has been underpinned by an anticipated increased resource estimate from drilling results and the increasing demand by prospective offtake partners
- On the market this morning, Lake Resources is up 5.26 per cent and trading at $1 per share
Lake Resources (LKE) has increased the proposed production of lithium at its Kachi Lithium Brine Project for the definitive feasibility study (DFS) and the final investment decision (FID).
The production base case for the Argentinian-based project will double from 25,500 tonnes per annum of lithium carbonate equivalent (LCE) to 50,000 LCE.
The clean lithium developer said the increase has come from previous drilling results and the increasing demand by prospective offtake partners who are looking for high purity lithium carbonate.
“Given the increasing demand and the significant lithium supply gap, Lake is focused on delivering high purity lithium carbonate at scale with meaningful ESG benefits”, Lake Resources Managing Director Steve Promnitz said.
“Lake has received indicative financial support for an increase in the size of the Kachi project from the Export Credit Agencies (ECA’s) of the UK and Canada and the numerous international ECA-supported banks. Also, Lake’s technology partner, Lilac Solutions, is focused on advancing the Kachi Project at this larger scale.”
Kachi is Lake’s flagship project and is located in Argentina’s Catamarca Province at the southern end of the Lithium Triangle, a world-renowned province responsible for 40 per cent of global lithium production
Lithium prices saw a rise last year as automakers around the world invested to transition to cleaner modes of transport, as there is a global push to cut carbon emissions.
On the market this morning, Lake Resources was up 5.26 per cent and is trading at $1 per share at 10:50 am AEDT.