Century Lithium Achieves Significant Cost Savings at Angel Island Lithium Project in Nevada
Century Lithium Corp. has recently disclosed the promising findings from its optimization program at the Angel Island Lithium Project located in Nevada. This project, previously known as the Clayton Valley Lithium Project, is pivotal for the company's future and has garnered significant attention due to its strategic importance in the North American lithium market.
The company undertook an internal, non-independent review of the cost estimates associated with the project, particularly focusing on capital expenditures (CAPEX). The outcome of this Optimization Study reveals potential reductions of about 25% on the initial Phase 1 CAPEX, which was estimated at $1.581 billion. Such a substantial decrease in costs can reshape the economic landscape of the Angel Island project, presenting a more viable path forward.
Several key areas were identified that can yield these cost savings. Among them were modifications to the flow sheet, the selection of equipment, and updated vendor quotes pertaining to the essential processing areas such as filtration, Direct Lithium Extraction (DLE), and the chlor-alkali plant. Furthermore, the internal assessment evaluated the engineering and construction plans, allowing the team to pinpoint overlapping responsibilities and areas where redundancies and inefficiencies existed, streamlining the entire process from mining to the projected on-site production of battery-grade lithium carbonate (Li2CO3).
The implications of these findings are significant. As Bill Willoughby, President and CEO of Century Lithium, remarked, ‘We are very pleased with the outcome of the Optimization Study. These results, if verified through an updated Feasibility Study, will have an enormous positive impact on the economics of Angel Island.’ This optimization symbolizes a critical advancement for Century Lithium as it aims to enhance shareholder value and assert Angel Island's place as a leading resource in the burgeoning lithium development space in North America.
Lithium remains a cornerstone for ensuring Western independence in energy transformation. Even amidst current market volatility and depressed prices, the long-term fundamentals of the lithium industry remain robust. Given these improved economics, together with the advanced development stage of Angel Island, the project has evolved into a pivotal asset within the broader context of the United States' lithium strategy.
With the outcomes of the Optimization Study in hand, Century Lithium plans to kickstart an Updated Feasibility Study to further confirm its findings. The focus will be on improving the mine plan, optimizing processing methods, and even exploring the potential sale of surplus sodium hydroxide, all of which are projected to establish competitive capital and operational costs moving forward.
Century Lithium Corp., with its foundation based on innovation, is well-placed to navigate the evolving landscape of the lithium industry. The company operates in Esmeralda County, Nevada, where the Angel Island project features one of the largest sedimentary lithium deposits in the United States. It employs a unique, patent-pending process for extracting lithium, making the project one of the few advanced developments poised to deliver battery-grade lithium carbonate optimally suited for the expanding electric vehicle and battery storage industries.
Currently in the permitting phase, the project anticipates a three-phase production plan expected to yield an average of approximately 34,000 tonnes of lithium carbonate annually over a 40-year lifespan. With strategically low estimated operating costs, Angel Island is anticipated to be a significant contributor to the lithium supply chain in North America.
In summary, Century Lithium’s recent achievements at the Angel Island Lithium Project highlight the company’s commitment to innovation and sustainability in the lithium sector, marking a hopeful trajectory for future developments and showcasing its potential for unlocking considerable value for stakeholders.
The company undertook an internal, non-independent review of the cost estimates associated with the project, particularly focusing on capital expenditures (CAPEX). The outcome of this Optimization Study reveals potential reductions of about 25% on the initial Phase 1 CAPEX, which was estimated at $1.581 billion. Such a substantial decrease in costs can reshape the economic landscape of the Angel Island project, presenting a more viable path forward.
Several key areas were identified that can yield these cost savings. Among them were modifications to the flow sheet, the selection of equipment, and updated vendor quotes pertaining to the essential processing areas such as filtration, Direct Lithium Extraction (DLE), and the chlor-alkali plant. Furthermore, the internal assessment evaluated the engineering and construction plans, allowing the team to pinpoint overlapping responsibilities and areas where redundancies and inefficiencies existed, streamlining the entire process from mining to the projected on-site production of battery-grade lithium carbonate (Li2CO3).
The implications of these findings are significant. As Bill Willoughby, President and CEO of Century Lithium, remarked, ‘We are very pleased with the outcome of the Optimization Study. These results, if verified through an updated Feasibility Study, will have an enormous positive impact on the economics of Angel Island.’ This optimization symbolizes a critical advancement for Century Lithium as it aims to enhance shareholder value and assert Angel Island's place as a leading resource in the burgeoning lithium development space in North America.
Lithium remains a cornerstone for ensuring Western independence in energy transformation. Even amidst current market volatility and depressed prices, the long-term fundamentals of the lithium industry remain robust. Given these improved economics, together with the advanced development stage of Angel Island, the project has evolved into a pivotal asset within the broader context of the United States' lithium strategy.
With the outcomes of the Optimization Study in hand, Century Lithium plans to kickstart an Updated Feasibility Study to further confirm its findings. The focus will be on improving the mine plan, optimizing processing methods, and even exploring the potential sale of surplus sodium hydroxide, all of which are projected to establish competitive capital and operational costs moving forward.
Century Lithium Corp., with its foundation based on innovation, is well-placed to navigate the evolving landscape of the lithium industry. The company operates in Esmeralda County, Nevada, where the Angel Island project features one of the largest sedimentary lithium deposits in the United States. It employs a unique, patent-pending process for extracting lithium, making the project one of the few advanced developments poised to deliver battery-grade lithium carbonate optimally suited for the expanding electric vehicle and battery storage industries.
Currently in the permitting phase, the project anticipates a three-phase production plan expected to yield an average of approximately 34,000 tonnes of lithium carbonate annually over a 40-year lifespan. With strategically low estimated operating costs, Angel Island is anticipated to be a significant contributor to the lithium supply chain in North America.
In summary, Century Lithium’s recent achievements at the Angel Island Lithium Project highlight the company’s commitment to innovation and sustainability in the lithium sector, marking a hopeful trajectory for future developments and showcasing its potential for unlocking considerable value for stakeholders.
Topics Energy）
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