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Sonora Lithium Project - Overview

Bacanora owns ten mining concession areas covering approximately
100,000 hectares in the northeast
of Sonora State in Mexico

Seven of these ten mining concessions
(the 'Sonora Lithium Project') were included in the
Sonora Feasibility Study published in January 2018.

 

LARGE LITHIUM DEPOSIT

8.8 Mt of LCE resources at
Sonora, open-pit mining
with ~250 year resource life

COMPLETED FEASIBILITY STUDY

$1.25B NPV; 26% IRR

COST
COMPETITIVE

~$4,000/t operating
cost among the lowest
in the industry

SONORA LITHIUM PROJECT
MEXICO
 

GANFENG LITHIUM PARTNERSHIP

  • Cornerstone investment by leading producer Ganfeng Lithium in Bacanora Lithium Plc and 50% partnership of the Sonora Lithium Project
  • Long term 50% off-take for Stage 1 and 75% off-take for Stage 2
     

OTHER STRATEGIC PARTNERSHIPS

  • 10 year Off-take agreement and equity partnership with Japanese trading group Hanwa for 50% initial 10 years of Stage 1 production
  • $25 million debt finance facility from RK Mine Finance
     

RAPIDLY GROWING MARKET

  • Lithium supply has to increase at a 19% CAGR over the next 6 years to meet 2025 demand. Even at the height of the market, the industry only managed to grow by 11% per year, on average, from 2015-2018
     

CONVENTIONAL PROCESSING

4 years of ongoing battery grade (99.9%) lithium carbonate production from Pilot Plant with testwork ongoing for lithium hydroxide product

APPROVALS
IN PLACE

MIA/EIS permits received. Land acquisition completed. Water licence permits granted.

LITHIUM
PRICING

Lithium pricing now starting to increase as EV and renewable energy demand increases post Covid-19.

EXPERIENCED
MANAGEMENT

Track record in mine development and production

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