Infinity Lithium is encountering unforeseen challenges in obtaining the necessary permits to develop its San José lithium project in Spain. The company is forced to update its study and repeat metallurgical testwork using Spanish laboratories, a requirement that has significantly delayed the timeline for project approval. While navigating these hurdles, Infinity Lithium is actively exploring other investment opportunities, particularly in energy minerals that align with its existing portfolio.
Infinity Lithium is actively seeking alternative opportunities while navigating unexpected requirements for its San José project in Spain . The project's approval timeline has been pushed back by at least a year, as Infinity was informed of the need to update its study and repeat all metallurgical testwork using Spanish laboratories. This unexpected turn of events raises eyebrows, reminiscent of the surreal and abstract nature of Spain 's renowned artist, Pablo Picasso.
Infinity explains that due to the lack of capabilities in Spanish laboratories to conduct the required level of metallurgical testwork in lithium chemical processing, particularly using autoclaves, previous testwork had been conducted in Australian and German laboratories. The company emphasizes that relevant authorities were aware of this limitation at the time. \Infinity is collaborating with authorities to find solutions to these technical obstacles and ensure compliance with the requests. The company acknowledges that other projects in the region may also face similar recompliance requirements. Upon completion of this work, the crucial public consultation process will commence, a process initially anticipated for late last year but now targeted for late 2025. \This development marks the second instance within the past month where an ASX-listed company has expressed frustration with Spain's permitting process. Black Dragon Gold, another company, encountered permitting delays for its Salave project in northern Spain and highlighted the lack of environmental grounds for rejection, emphasizing that all concerns raised in 2019 had been addressed and the project's environmental impact assessment was finalized. Despite these setbacks, Infinity Lithium remains optimistic about the strong medium and long-term demand for lithium produced in Europe, crucial for its energy transition, and believes San José can be a valuable asset in this transition. The company continues to explore other opportunities, particularly in energy minerals that complement its existing portfolio. Infinity reported A$12.9 million in cash at the end of September, although approximately A$6.2 million was restricted use PERTE grant funding held on term deposit. Infinity shares dipped by 3.5% to 2.8c in midday trade, valuing the company at A$13 million. This represents a significant decline from its levels around 9c a year ago and above 20c in October 2022. Scoping work conducted in late 2023 estimated the initial capital expenditure for San José at US$1.3 billion, encompassing a two-million-tonne-per-annum underground mine
Infinity Lithium San José Project Lithium Permitting Delays Spain Metallurgical Testwork Energy Transition Investment Opportunities
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