Lithium Milestones & Phases - AMG Lithium

Lithium Milestones and Phases

Phases I & II Lithium Concentrate

Monetization of substantial lithium mineral deposits currently residing in AMG Mineração’s tailings ponds and tailing stockpiles; AMG will construct two lithium concentrate (spodumene) production facilities, co-located with AMG Mineração’s tantalum mine and upgrading plant in Brazil

Initial production of 90,000 MT of lithium concentrate per annum, with a target to expand to 180,000 MT by end of 2019

2015

Lithium concentrate (spodumene) plant studies completed by Outotec (Q4 2015)

  • Conceptual study
  • Pre-feasibility study

The pilot plant received basic maintenance and wet magnetic separators were rented, placing the pilot plant back into operational condition.

2016

  • Spodumene plant I (90,000 MT annual production capacity) basic engineering completed July 2016 by Outotec
  • Plant I investment of $50M approved by AMG’s Supervisory Board on July 19th, 2016
  • Plant I construction commenced November 2016

2017

  • Signed multiyear contract on March 3rd, 2017 to supply 90,000 MT lithium concentrate
  • Resource statement completed on April 3rd, 2017
  • AMG announced target to expand spodumene production operations to 180,000 MT per annum by end of 2019
  • Plant II investment of $110M approved by AMG’s Supervisory Board on December 12th, 2017

2018

  • Spodumene plant I to be at full capacity (90,000 MT per annum)

2019

  • Spodumene plant II mechanical completion targeted for second half of 2019, with annual production of lithium concentrate to be increased to 180,000 MT per annum

Phase III Lithium CHEMICAL

Downstream conversion of lithium concentrate into lithium hydroxide monohydrate and/or lithium carbonate

2016

  • Hatch lithium chemical plant scoping and location studies completed in Q2 2016
  • Hatch lithium chemical plant pre-feasibility study completed in Q4 2016

2017

  • Detailed due diligence and feasibility study underway
  • Final investment decision expected in H1 2018