HOUSTON, Feb. 7, 2023 /CNW/ - International Battery Metals Ltd., (the "Company" or "IBAT") (CSE: IBAT) (OTC: IBATF) (FSE: 8RE), the fastest lithium producing company, today announced it will have access to substantial, highly desirable lithium brine reserves in Argentina through a partnership.
The partnership gives International Battery Metals, Ltd. ("IBAT" or the "Company") access to a portfolio of prospective lithium brine concessions, including 140,000 acres in the Argentinian province of Catamarca, often referred to as "the heart of the lithium triangle." The agreement enables IBAT to begin placing and using its processing technology, which was designed for the purpose of rapidly commencing onsite production.
Garry Flowers, IBAT's Chief Executive Officer, described the partnership as "an incredible opportunity to begin recovering lithium using IBAT's groundbreaking technology."
IBAT's ability to recover lithium is greatly expedited due to:
Superior recovery rate that is at least 50% better than industry average, resulting in fast recovery as well as a greater quantity of lithium recovered
The configurable nature of the technology which reduces the plant construction and permitting process by 3 to 8 years
The modular nature of the technology which is pre-built, shipped in modules and can be quickly deployed in less accessible locations such as the province of Catamarca, Argentina
All of these factors equate to fast start-up with reduced extraction and processing costs.
The agreement represents IBAT's initial commercial venture in Argentina operating its innovative and patented lithium plant technology. The partnership with Ensorcia Metals Corporation entitles IBAT to receive revenues in the form of ongoing fees, royalties, as well as a percentage of profit for use of the extraction plant.
IBAT's processing plant is an exceptionally sustainable, proprietary form of DLE (Direct Lithium Extraction) technology that is expected to greatly minimize environmental impact. This benefits both the local communities who shepherd the land, and the business partners involved. IBAT's technology is safe, carbon-friendly, does not require the use of chemicals, does not produce chemical by-products, does not require the constant use of freshwater, and recycles 94% of any water intake.
"Efficient, high yielding, and clean technologies have been the focus of my career," said Dr John Burba, the inventor of the IBAT plant technology and global lithium expert. "It is greatly fulfilling to see this brought to reality."
The partnership is expected to be finalized in the first quarter of 2023.
International Battery Metals (IBAT) (CSE: IBAT) (OTC: IBATF) (FSE: 8RE) is the fastest lithium processing company, and has the only patented technology able to achieve commercial scale production in just 18 months. IBAT's proprietary Modular Direct Lithium Extraction technology is proven to quickly and efficiently recover more lithium from brine than traditional methods, while offering safe, superior and sustainable environmental performance. By bringing more lithium to more partners, we are accelerating a bright future for electric vehicles.
Forward-looking and cautionary statements
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbor provisions as defined under securities laws and regulations.
This release may contain certain forward–looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward – looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward – looking statements.