Standard Lithium (TSX.V: SLI) (NYSE American: SLI) (FRA: S5L), an innovative technology and lithium project development company, today announced that it has reached an agreement with its strategic partner, LANXESS Corporation, that streamlines and expedites the plan for development of the first commercial lithium project in Arkansas. The project is to be constructed at an operational Lanxess facility in El Dorado, Arkansas. Under the agreement, Standard Lithium will control all development of the project leading up to and including the completion of the Front End Engineering Design (“FEED”) study. “This agreement builds upon the successful working relationship that has been established between the companies. By entering into this agreement, Standard Lithium takes ownership of the project and its development timelines with a clear path towards delivering the first new commercial lithium production in the USA in over 50 years*,” said Robert Mintak, CEO of Standard Lithium. “We have already begun the process of engaging and integrating the strategic team members to make this project a success. With the recent investment from our largest shareholder, Koch Strategic Platforms, we are fully funded to complete all planned project milestones leading to a Definitive Feasibility Study, which is expected to be completed in Q4 2022.”
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About Standard Lithium Ltd.
Standard Lithium is an innovative technology and lithium development company. The company’s flagship project is located in southern Arkansas, where it is engaged in the testing and proving of the commercial viability of lithium extraction from over 150,000 acres of permitted brine operations. The company operates its first-of-a-kind industrial-scale direct lithium extraction demonstration plant at Lanxess’s south plant facility in southern Arkansas. The demonstration plant utilizes the company’s proprietary LiSTR technology to selectively extract lithium from Lanxess’s tail brine. The demonstration plant is being used for proof-of-concept and commercial feasibility studies. The scalable, environmentally friendly process eliminates the use of evaporation ponds, reduces processing time from months to hours and greatly increases the effective recovery of lithium. The company is also pursuing the resource development of over 30,000 acres of separate brine leases located in southwest Arkansas, referred to as the South West Arkansas Lithium Project, and approximately 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino County, California. Standard Lithium is jointly listed on the TSX Venture Exchange and the NYSE American under the trading symbol SLI, and on the Frankfurt Stock Exchange under the symbol S5L. For more information, please visit the company’s website at www.StandardLithium.com.
*See https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-lithium.pdf
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