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Finance Investment, Oil Mining Resources

Latin Resources’ (ASX:LRS) MD Chris Gale is granted the award of “Asia Pacific Business Leader”

Latin Resources Limited (ASX:LRS) 3 mins read

Asia Pacific Business today announced the winners for the Asia Pacific Business Awards 2023-2024. Chris Gale, Managing Director of Latin Resources Limited is granted the award of ‘Asia Pacific Business Leader ‘ in recognition of his entrepreneurial spirit.

The Asia Pacific Business Awards recognise companies and organisations headquartered in the APAC region, multinational corporations (MNCs) in Asia, entrepreneurs, CEOs, presidents, senior executives and advisors for their professionalism, performance and leadership in uncertain times. This award not only recognises companies and executives who demonstrated outstanding performance, but also the ones who have made significant contributions to their industries and society. This award is not just about the accolades, it‘s about sharing and inspiring. The goal of this award is to share common traits of the excellent business practitioners, shining a light on these role models, and inspiring others to follow.

Under his leadership, Chris has transformed the ASX-listed Latin Resources from exploring for copper in Peru to discovering a large lithium spodumene deposit in the State of Minas Gerais, Brazil. The Salinas Project currently hosts the largest single lithium deposit in Brazil and is on track to host one of the largest capacity hard rock lithium operations globally when it goes into production in 2026.

Chris is committed to building a low cost, sustainable lithium operation, with environmentally friendly credentials including a hydroelectric-backed grid power supply, sustainable water access and recycled water systems, as well as dry stack tailings.

Not only intent on building a world class lithium operation in Brazil, Chris is also committed to building the community in the region where the company operates. Under his guidance, the company runs an educational program in local schools on mining and environmental issues; they also support a local youth training program to create skills needed for the growing lithium industry. Latin runs an information office in Salinas town to keep the community updated on the project and the company’s environmental programs. Among other initiatives, Latin has invested in the local flood fund to build a levy wall to protect the town from future river overflows.

Chris Gale Said:

“It is very pleasing to be recognised in the Asia Pacific Business Awards 2023-2024, and I see this award as recognition for the whole team at Latin who are constantly striving not just to build our business, but to develop the region in which we operate.

“I am proud to be developing a world class sustainable lithium operation and we are determined to turn Lithium Valley Brazil in Minas Gerais into a sustainably green economic force, one that both nurtures and supports the local communities.”

Latin Resources Limited (ASX: LRS) is an Australian-based mineral exploration company, developing a low-cost, sustainable, tier one lithium operation in the premier mining jurisdiction of Minas Gerais, Brazil.

The Company is focused on its flagship Salinas Lithium Project, where the Company has defined a Global Mineral Resource Estimate at its Colina Lithium Deposit* of 70.3Mt @ 1.3% Li2O, reported above a cut-off of 0.5% Li2O.

The classification of this JORC MRE includes:

·       Colina MRE- 63.5Mt @ 1.3% Li2O (1.73Mt @ 1.47% Li2O Measured + 39.29Mt @ 1.36% Li2O Indicated)+ 22.47Mt @ 1.21% Li2O Inferred.

·       Fog’s Block MRE- 6.8Mt @ 0.9% Li2O Inferred.

The Company recently defined a Preliminary Economic Assessment (PEA)** which contemplates a proposed 3.6Mtpa standalone mining and processing operation over two phases. where the economics show after-tax NPV8% of A$3.6 billion (US$2.5 billion) and combined after-tax IRR of 132%.

Latin also holds the Catamarca Lithium Project in Argentina and through developing these assets, aims to become one of the key lithium players to feed the world’s insatiable appetite for battery metals.


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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