By Business Reporter – Monday 13 January 2020
HARARE (Mining Index) – ARCADIA Lithium producer, Prospect Resources (ASX:PSC, FRA:5E8) is poised to become the largest ultra-low iron lithium concentrate producer on the international market.
“Prospect anticipates being one of only two mines in the world capable of producing ultra-low iron petalite and we expect to be the largest player in this natural oligopoly – none of which are based in Australia,” said Hugh Warner, Prospect Resources Executive Chairman.
Following an announcement released on 4 November 2019, Prospect revealed its ultra-low iron petalite product has progressed through the secondary qualification process with one of the world’s largest glass-ceramic manufacturers based in Europe.
“Prospect provided the manufacturer with a sample for larger scale laboratory testing and analysis. The outcome from their analysis is that the ultra-low iron petalite surpasses the glass ceramic market’s stringent ultra-low iron and alkali technical specifications.”
“To pass the final step in the product qualification process, Prospect’s ultra-low iron petalite product needs a full test in the production kiln. This is expected to be undertaken in 2020; once the pilot plant is constructed and larger volume of product is available,” he said.
Warner said the African lithium company is in discussions with an additional industry leading glass ceramic producer based in Europe with a view to enter into a Memorandum of Understanding (MoU) where both parties seek to develop a commercial relationship.
“Prospect is currently engaging with glass and ceramics customers across Europe, Asia and Africa who collectively, consume over 130,000 tpa equivalent of ultra-low iron petalite. Prospect’s ability to consistently produce approx. 100,000tpa of ultra-low iron petalite product, over its 15.5 year Life-of-Mine, is a key attraction from customers,” said Warner.
Demand for Prospect’s ultra-low iron petalite is expected to be spread equally between Europe and Asia, with a considerable supply deficit for the foreseeable future. ENDS// www.miningindex.co.zw