Infinity Lithium Corporation Ltd (ASX:INF) has received strong endorsement for the San José Lithium Project in Spain with the Regional Government of Extremadura declaring it to be a project of regional and general interest.
PREMIA (Proyecto Empresarial de Interés Autonómico) status for Infinity’s wholly owned subsidiary Extremadura New Energies by the Regional Government of Extremadura Consejería de Economía, Empleo y Transformación Digital recognises that San José is strategically important to the region.
This means that the assessment of the project’s next stages of the Exploitation Concession Application (ECA) will be prioritised and accelerated through all regional government departments undertaking the assessment of the submission.
“Major endorsement”
Infinity managing director and CEO Ryan Parkin said, "The award of PREMIA status to San José highlights the exceptional standing of the project within a proactive government currently courting investment on downstream lithium-ion battery value chain initiatives.
“San José is a critical and strategically significant project for both Extremadura and the EU, and the foundation of regional ambitions through one of Europe’s largest lithium resources.
“The ability to fast track the permitting administrative processes is clearly beneficial and a major endorsement for the project.”
About PREMIA status
Declaration of PREMIA status has followed the successful stage 1 approval of a viable lithium resource at San José and subsequent submission of stage 2 project documentation.
ECA documentation will now be assessed in accordance with the resources available as a project of PREMIA status.
The Regional Government of Extremadura formally announced the PREMIA declaration through Abel Bautista, the Minister of Presidency, Regional Affairs and Social Dialogue.
Bautista said: “The Governing Council of the Regional Government of Extremadura has approved the declaration of business projects of autonomous interest, known as PREMIA. This qualification is granted to Extremaduran projects that have a significant impact on employment and the productive structure of our region.”
Progress prioritised
The Regional Government of Extremadura has highlighted the benefits of PREMIA for the project inclusive of “the priority and urgent nature of this process for the whole of the regional administration”.
Furthermore, “it means that, in a much more agile way, with more speed, everything is processed in the regional government with a view to the final result.
“This generates certain benefits such as the priority and urgent management of regional procedures of the direct granting of subsidies related to the promotion of employment.
"On this occasion, approval was given to the PREMIA application made by the company Castilla Mining for its integrated mining project and first industrial transformation of the Valdeflorez lithium resource in Cáceres.”
Castilla Mining is a wholly owned subsidiary of Infinity and maintains the administrative rights to the Exploration Permit Extremadura S.E. (PESE).
Permitting strategy
Infinity has advanced the permitting strategy to execute the submission of a Direct ECA utilising the administrative rights under PESE.
The permitting strategy has been shaped in concert with local and regional project stakeholders, and administrative consultation to incorporate the government’s assessment criteria.
The Regional Government of Extremadura’s Directorate General of Industry, Energy and Mines has confirmed “the existence of a lithium deposit in the two mining squares applied for as direct exploitation concession, being technically and economically viable its exploitation with the application of the current exploitation technologies and metallurgical processes”.
In addition to an accelerated permitting process, PREMIA status facilitates expropriatory capacity for access roads, power lines and supply pipelines.
The Regional Government of Extremadura highlighted further benefits including “the direct granting of subsidies for employment and the declaration of public utility or social interest”.
It highlights projects as “Business Projects of Autonomous Interest”, or PREMIA projects, will benefit from “boost” measures to facilitate business activity in the region.