American Lithium''s Massive Peru Lithium Resource Increase
American Lithium Corp. is advancing its Falchani lithium project in Peru towards production to capitalize on surging lithium demand. A recent resource update positions
Our Standards: The Thomson Reuters Trust Principles. American Lithium has raised its planned investment for the Falchani lithium project in Peru by 22% to $847 million, an executive said on Thursday, as it relaunches the project following a favorable court ruling that ended a legal dispute over its concessions.
American Lithium Corp. is advancing its Falchani lithium project in Peru towards production to capitalize on surging lithium demand. A recent resource update positions Falchani among the world's largest hard rock lithium deposits.
Initial production is targeted at 24,000 tonnes per year LCE. Exploration continues to reveal huge upside potential in Peru, with a new discovery at Quelcaya of over 250 meters of high-grade lithium mineralization. American Lithium is focused on advancing large-scale lithium projects in mining-friendly jurisdictions in the Americas.
It is worth remembering that, in July 2021, Law No. 31283 was enacted, which declares the exploration, exploitation and industrialization of lithium and its derivatives a public necessity. Likewise, it declares that its commercialization constitutes a strategic resource.
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