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Minera Salar Blanco Receives Environmental Approval for the Maricunga Lithium Project

Mining News - Published on Fri, 14 Feb 2020

Image Source: Minera Salar Blanco Maricunga Project
Bearing Lithium Corp announced its joint venture company, Minera Salar Blanco SA, has today received environmental approval for the Maricunga project in the Atacama Region of northern Chile. Bearing holds an 18% interest in MSB, along with Lithium Power International at 51% and a private Chilean company at 31%. The Chilean Government's Central Environmental Committee has voted to approve the project's Environmental Impact Assessment. This is one of the few EIAs approved in Chile during recent years and it will enable MSB to become the third significant lithium operation in the country with an anticipated 20,000 tonnes annual production for an estimated capital investment of US$563 million.

Focus will now be on finalising the financial structuring for the construction of the project, including possible off-take agreements. Assuming all necessary funding is obtained, construction is expected to commence by the end of Q3 2020.

The EIA was submitted by MSB to the Chilean Environmental Authority, Servicio de Evaluación Ambiental (SEA), in September 2018 and was the culmination of more than two years of field and desk work.

The process involved in-depth data gathering, a variety of environmental and engineering studies and monitoring campaigns carried out by experienced company management and consulting experts.

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Posted By : Yogender Pancholi on Fri, 14 Feb 2020
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