Lithium Power International Ltd (ASX:LPI) has completed the acquisition of water rights covering its Maricunga Lithium Project in Chile.
The acquisition of the 62 litres/second CAN 6 rights, gives LPI the ability to replace a long-term lease previously held for part of its water requirements.
LPI has now secured the supply for future needs of its Stage One project and any future expansions and with this ownership, LPI is able to control its future water consumption without the risk of external interference from third parties.
The Stage One project will produce an average of 15,200 tonnes per year of highly pure, battery-grade lithium carbonate and will have a low, freshwater consumption, of just 8 l/s.
“Water rights are critical to the operation and development of lithium brine projects. Owning all of the CAN 6 water rights, allow us not only to secure the future needs of water for the Stage One project and future expansions at Maricunga but improves LPI’s position looking forward,” Lithium Power International’s CEO Cristobal Garcia-Huidobro said.
LPI is pushing forward with construction in Chile after its recent capital raise to help build the mine.
Watch LPI CFO Andrew Phillips speak about the project below: