2nd Jul 2018 11:20
LONDON (Alliance News) - Bacanora Lithium PLC said on Monday it is currently in the final stages of talks with several financing and offtake partners, over funding for construction of stage one of the Sonora Lithium Project in Mexico.
In June, Bacanora said the 17,500 tonne per year chemical plant will be the first phase of construction at Sonora, and this will be upgraded to 35,000 tonnes per year in a planned stage two expansion.
Bacanora also said Monday that Japan's Hanwa Corp has agreed to extend its initial lithium off-take partnership for a further five years at a rate of 17,500 tonnes a year, on the same terms as the initial five-year deal.
Shares in Bacanora Lithium were up 7.6% at 83.95 pence on Monday.
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