Infinity Lithium Corporation Limited (‘Infinity’, or ‘the Company’), through its wholly owned Spanish subsidiary Extremadura New Energies, is pleased to provide an update on San José Lithium Project (‘San José’, or ‘the Project’) and welcomes the clarification from the City Council of Cáceres and the Regional Government of Extremadura for the technical assessment of an environmentally sustainable project. The Company will now reassess the current legal pathways to advance the technical presentation for formal assessment of the Project following the public request from the Mayor of Cáceres.


HIGHLIGHTS

  • Local and regional government have invited Extremadura New Energies to formally present the redesigned underground development proposal.
  • The formal submission of the Project will facilitate the start of the technical assessment and subsequent administrative progression of the application.
  • Extremadura New Energies will continue to collaborate with all stakeholders and align the Project to the locality of Cáceres.

The technical studies underpinning San José will be presented based on the undergroundonly mineral extraction and associated lithium battery chemical production facility. The Company has engaged directly with major stakeholders and the redesigned project is in direct response to the local community and social licence advancements.

The Company acknowledges the City Council of Cáceres’ clarification of multiple project requirements through an underground model providing improved environmental and social outcomes.

The Mayor of Cáceres noted the administrative and legal framework in the context of the process for assessment through the City Council of Cáceres, commenting "when a new project is proposed, we are not opposed to it; we are in favour of checking that things are done well and that they are legal", and furthermore proposed the technical presentation of the Project for assessment. The Company welcomes the opportunity to collaborate with local stakeholders and is seeking clarification and advice on the resolution of alternative legal avenues to advance the Project. The technical presentation of the Project will provide visibility to interested parties and stakeholders under the requirements of the administrative process and in adherence with ASX listing rules.

Extremadura New Energies CEO Ramón Jiménez Serrano commented

“We welcome the invitation and opportunity to collaborate with government and local stakeholders to ensure all facets of the Project are presented in line with the highest levels of societal and environmental compliance. The willingness to address alternative formal avenues is a major step forward as all parties seek to resolve a pathway to delivery of a world class project to cornerstone Extremadura’s lithium-ion battery value chain.”

Extremadura is rapidly advancing renewable energy and lithium-ion battery value chain projects, and the Company welcomes the recent announcement of the application for a sustainable lithium-ion battery giga-factory in the province of Cáceres.

The City Council of Cáceres and the Regional Government of Extremadura have both endorsed the requirement for an environmentally sustainable project that will be good for Cáceres and Extremadura. The City Council of Cáceres has noted that they “have won a very important battle. It is a success for the city” through repositioning of the Project.

The Regional Government of Extremadura has highlighted the alignment to the Mayor of Cáceres and reinforced calls for the technical assessment of the redesigned Project through spokesman Juan Antonio González, calling for "an environmentally viable project, because that would be good for Cáceres and for Extremadura, but it must meet a series of requirements".

The Regional Government of Extremadura have acknowledged the requirement for the Project to be formally presented and publicly registered. This can be following the resolution of Investigation Permit Valdeflorez (‘PIV’) which is currently before the before Contentious Appeal Court of Cáceres, or through alternative legal avenues sought in advance of the determination.

The announcement was authorised by the Board. For further inquiries please contact.

Ryan Parkin
CEO, Managing Director
T: +61 (8) 6146 5325
E: rparkin@infinitylithium.com

Lucas Robinson
Investor Relations Manager
T: +61 (0)408 228 889
E: lrobinson@infinitylithium.com

Click here for the full ASX Release

This article includes content from Infinity Lithium Corporation Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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