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Finance Investment, Oil Mining Resources

Galan Lithium Limited (ASX:GLN) – Filling of HMW Pond 2 Commences

Galan Lithium Limited (ASX:GLN) 2 mins read

Sydney, Australia – Galan Lithium Limited (ASX:GLN), an ASX-listed lithium exploration and development business, is excited to announce significant progress in the construction and development of its Hombre Muerto West (HMW) Phase 1 lithium brine project. The company is on track to commence lithium chloride production in the first half of 2025, reinforcing its position as a leader in the lithium industry with one of the lowest all-in sustaining costs.

Key updates on the HMW project include:

  • The commencement of filling pond 2, with the evaporation process now underway.
  • Pond 2 earthworks and liner installation are 65% complete, while pond 3 earthworks are 40% complete.
  • Pond 1 continues to evaporate, currently containing approximately 500t LCE.
  • Completion of ten production wells, exceeding the six required for Phase 1.
  • The HMW production process is highlighted for its minimal use of fresh water, significantly reducing the environmental footprint compared to traditional lithium extraction methods.
  • Water sourcing for the HMW Project will be from in situ dedicated water wells, not from the Los Patos River as previously speculated.
  • The strategic HMW lithium chloride production plan remains on track, with Phase 1 and Phase 2 development plans continuing as planned despite recent provincial court rulings.
  • Galan anticipates being in the 1st quartile of the lithium industry’s cost curve, boasting an initial reserve estimate of 40 years.
  • The Phase 2 operating cost to LiCl concentrate of $US3,510/t LCE translates to a competitive Li2O equivalent operating cost for SC6 (Spodumene Concentrate) of $US310/t-$US350/t.
  • The due diligence process with Glencore is advancing, with outcomes to be announced upon completion.

Galan’s Managing Director, Juan Pablo (JP) Vargas de la Vega, expressed his enthusiasm about the project's progress, stating, “We are very proud of the solid progress being made by the HMW Phase 1 construction team and Galan is well on its way towards their long-term production journey for its low-cost, low-risk lithium chloride development strategy. We remain firm in progressing our lithium chloride strategy and are confident that our production approach, including key tenement acquisitions, permitting and offtake arrangements put Galan in a good place to becoming the next lithium producer in Argentina in H1 2025.”

The HMW project, divided into four production phases, aims to significantly increase its production capacity over the next decade, with a Phase 1 Definitive Feasibility Study (DFS) focusing on the production of 5.4ktpa LCE of lithium chloride concentrate by H1 2025. Following the success of Phase 1, the project will expand its production in subsequent phases, targeting a total of 60ktpa LCE by 2030.

Galan Lithium is committed to advancing its HMW project efficiently and sustainably, setting a new standard in the lithium industry for environmental responsibility and cost-effectiveness. The company looks forward to providing further updates as it progresses towards becoming a leading lithium producer in Argentina.


About us:

Galan Lithium Limited (ASX:GLN) is an ASX-listed lithium exploration and development business. Galan’s flagship assets comprise two world-class lithium brine projects, HMW and Candelas, located on the Hombre Muerto Salar in Argentina, within South America’s ‘lithium triangle’. Hombre Muerto is proven to host lithium brine deposition of the highest grade and lowest impurity levels within Argentina. It is home to the established El Fenix lithium operation (Arcadium Lithium, formerly Livent Corporation), Sal de Vida (Arcadium Lithium, formerly Allkem) and Sal de Oro (POSCO) lithium projects. Galan is also exploring at Greenbushes South in Western Australia, just south of the Tier 1 Greenbushes Lithium Mine.


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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