Infinity Lithium’s San José Project Poised to Join Global Race to Secure Critical Metals, CEO Says

Overview

The electric vehicle (EV) revolution is well underway, and world governments are scrambling to create domestic supply chains to support it. The European market is rapidly expanding with enormous battery production capacity already committed and the European Union has aggressive goals to put at least 30 million zero-emission vehicles on the road by 2030. Still, consumer adoption isn’t the only problem — the EU needs a domestic lithium supply.

Infinity Lithium (ASX:I NF , FRA:3PM) is an Australia-listed project developer that became the first to secure investments from the European Union to support the region’s plans for a domestic lithium supply chain. Lithium is a critical metal for producing high-capacity batteries that EVs require. One hundred percent of Europe’s battery chemical supply is currently imported, and such import reliance may become unsustainable as demand exponentially grows. The EU will require 18 times more lithium by 2030 and 60 times more by 2050 .

Infinity Lithium is developing a fully integrated, industrial lithium project utilizing one of the EU’s largest hard-rock lithium deposits with the potential to supply the region’s growing lithium demand. Its San José Lithium Project comprises both hard-rock lithium mining and chemical processing on-site to produce close to 20,000 tonnes per annum (tpa) of lithium hydroxide. In addition, Infinity Lithium has developed novel sustainable lithium processing technologies, via its Infinity GreenTech subsidiary, that can potentially unlock previously unviable lithium deposits.

Focused on supporting Spain and the EU’s energy transition, Infinity Lithium’s project is located in the Extremadura region of Spain near the town of Cáceres. The processing plant will operate using the novel technologies Infinity has developed with the support of EIT Innoenergy and will allow for more sustainable processing operations compared to traditional and existing lithium processing practices.

In February 2022, test work conducted at Dorfner Anzaplan in Germany produced battery-grade lithium hydroxide from the feedstock at Infinity Lithium’s San José project. These results are significant as they indicate that Infinity’s project is the first in the EU to produce battery-grade lithium chemicals and proves the efficacy of its innovative, environmentally sustainable process.

The company understands the importance of an impeccable ESG rating and works closely with the local community to create an operation that adds value. In October 2021, Infinity’s project converted its mining activity to an underground extraction methodology to further improve its environmental credentials and meet the demands of the local community of Cáceres.

An experienced management team leads Infinity Lithium toward its goal of becoming a significant player in the European Union’s lithium supply chain. Experts in corporate management, resource extraction, and chemical engineering create a team capable of leading the company toward its goals.

Company Highlights

• Infinity Lithium is an ASX-listed project developer that became the first recipient of investment from the European Union to support its goals of creating a local lithium supply chain.
• The company has an integrated lithium project that includes resource extraction and processing at the same location. The project contains the second-largest known lithium hard-rock deposit in the European Union.
• Infinity Lithium has also developed novel, innovative and sustainable technologies for low-grade lithium chemical processing.
• Recent test work conducted by Dorfner Anzaplan and Infinity’s technical advisory committee demonstrated that the company’s project and its processing technologies produce battery-grade lithium, the first project in Europe to do so.
• Infinity Lithium is mindful of its ESG rating and works closely with the local community to minimize the project’s environmental impact and provide value to surrounding communities.
• An experienced management team builds confidence the company will achieve its ambitious goals of becoming a significant player in the EU’s lithium supply chain.

Key Projects

San José Lithium Project

Infinity Lithium, through its subsidiary Extremadura New Energies, owns 75 percent of the San José Lithium Project, which contains the European Union's second-largest JORC-compliant hard-rock lithium deposit. Located in the Extremadura region of Spain and contains both lithium mining and chemical processing, the project is poised to become a major player in the European Union’s lithium supply chain. Once in full operation, the project will become a significant and sustainable source of battery-grade lithium chemicals.

Project Highlights:

• Unique Lithium Deposit : The massive lithium deposit is unique due to its extensive strike and surface outcrop, creating a sizable homogenous ore body. The fully JORC-compliant lithium deposit can sustain the operation for more than 25 years.
  
• Sustainable Focus : Infinity Lithium understands the importance of maintaining an excellent ESG rating as a lithium producer. The company has several initiatives focused on sustainability, including:
  • Underground Extraction: The deposit will be 100 percent mined through underground extraction. This method will result in minimal terrain disturbance, reduce air dust and minimize noise pollution.
  • Electrified Underground Fleet: Infinity is examining options for all-electric mining equipment for its underground mining operations.
  • Access to Renewable Energy: The Extremadura region of Spain is one of Europe’s most prominent centers of renewable energy. Access to clean energy allows Infinity Lithium to further enhance its ESG rating.

• Production of Battery-grade Lithium : The company’s project will become a large-scale producer of battery-grade lithium hydroxide for Europe. Lithium hydroxide is a critical component used in manufacturing the batteries that power EVs and other clean technologies.
  
• Permitting process initiated : The company has been working towards the lodgement of its direct exploitation concession involving the lodgement of its mining license application and environmental impact assessment. The process was initiated through the submission of an “initial document” essentially requesting the environmental authorities in Extremadura to formulate the environmental impact assessment scoping document. This document will provide the basis for the direct exploitation concession application.

Management Team

Adrian Byass - Non-Executive Chairman

Adrian Byass’ career spans over 25 years in the minerals industry. His robust experience was gained through mining, resource estimation and mine development roles for several gold and nickel mining and exploration companies. He has also gained experience in corporate finance and financial modeling during his employment with publicly listed mining companies. He has been part of exploration, development and production projects in a suite of commodities including gold, base metals such as copper, zinc, lead, specialty metals such as lithium, molybdenum and tungsten and fertilizers in Australia, America, Europe and Africa. Byass is the chairman of Galena Mining Limited (ASX. G1A ) which is progressing through the construction of a $200-million underground base metals mine in Australia and chairman of a producing underground gold mine in Australia (Kaiser Reef Limited ASX. KAU ). He also holds a non-executive role at Sarama Resources (TSXV. SWA ), a gold company working in Burkina Faso.

Ryan Parkin - Managing Director and CEO

Ryan Parkin graduated with a Bachelor of Commerce in accounting and finance from the University of Australia. He also earned his diplome d'etudes en langue francais (DELF), Francais from the Université de Pau et des Pays de l'Adour. He was a member of the investment advisory board for Bonfire Group and became the corporate development consultant for almost 10 years at Orthezian Holdings.

Ramón Jiménez Serrano - Executive Director and CEO of Extremadura New Energies

Ramón Jiménez Serrano has years of experience in leadership and management in the industrial and services sectors, with CEO and managing director roles leading major Spanish companies. Serrano has seven years of significant growth as CEO of world-leading development infrastructure and construction company Acciona Industrial. This included the growth of new business lines such as waste-to-energy, biomass, biofuels, photovoltaic and hydrogen projects globally. He was CEO of Acciona Service in parallel for five years, leading 18,000 employees globally in facility management, energy services, waste and environmental management.

Remy Welschinger - Executive Director and Head of Corporate Development

Remy Welschinger holds a Master of Science in investment management. He is the founder and managing director of Limehouse Capital, an investment holding company that specializes in natural resources projects. He has significant networks in the UK and European Union, and connections with major London-based institutions.

Jon Starink - Executive Director and Chief Technical Officer

John Starink has 30 years of extensive experience in the mining industry, particularly in project management, engineering design, science and engineering research and development, mining exploration management, and process innovation and development. Starink earned his Bachelor of Science (chemistry), Bachelor of Engineering (chemical engineering), and Master of Applied Science (biotechnology) from the University of Sydney.

Justin Samulski - General Manager (Commercial)

Justin Samulski has worked on major projects for the last 20 years with a major focus on mining and infrastructure projects. Justin’s background is in International Trade where he was a managing director for Axum, a company that specializes in risk mitigation across international supply chains as well as prior experience consulting for PwC in London and Perth. He also worked as Senior Manager - Customs and International Trade at Pitcher Partners.

Jonathan Whyte - CFO and Company Secretary

Jonathan Whyte worked as a regulatory and finance control officer at Credit Suisse from 1999 to 2004. He then moved to Barclays Investment Bank as an accountant and then to Lefroy Resources Limited as company secretary. From 2006 to 2020, Jonathan was the company secretary for Peninsula Energy Limited before transferring to Infinity Lithium for the same position.

David Valls Santos - General Manager of Extremadura New Energies

David Valls Santos has more than 12 years of experience in the mineral exploration sector, national and international. He worked as exploration geologist for Berkeley Minera España from 2009 to 2012. He briefly worked as chief geologist for Forte Energy NL before he became a senior geologist - consultant for nine years. He was Infinity Lithium’s country manager for five years before he was appointed general manager for Extremadura New Energies.