TNR Gold Corp has reached a significant milestone with the Mariana lithium project in Argentina, as the company prepares to start generating its first royalty stream later this year. Executive chairman Kirill Klip highlighted the importance of this development, emphasizing the company’s aim to establish itself within the green energy metals royalty and gold sector.
The Mariana lithium project, owned by Ganfeng Lithium, has been operational since January 2023 and is on track for the first production of lithium later this year. The project is focused on increasing lithium concentration and constructing facilities capable of producing lithium chloride, targeting an annual output of 20,000 tonnes. Notably, the operations are set to be entirely powered by renewable energy, with a 120-megawatt solar power plant being developed, expected to expand to 150 megawatts.
In addition to the project’s significance for TNR Gold Corp, Klip also highlighted the positive shift in Argentina’s business environment under the new presidency, emphasizing the country’s growing attractiveness for mining investments. TNR Gold benefits from Argentina’s enhanced business-friendly initiatives and holds a royalty on another significant project in the country, further solidifying its position in the region.
Addressing the lithium market, Klip noted the fluctuating prices but stressed the anticipated recovery and structural deficit due to the underestimation of supply by significant analysts. He underscored the strategic positioning of the Mariana lithium project, particularly for the production of lithium chloride, essential for the next generation of lithium solid-state batteries. These batteries are expected to enhance the efficiency and range of electric vehicles significantly.
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