Advance Lithium Enters Discussions With LitioMx for Joint Venture

Advance Lithium Corp. announced that it is in talks with the state lithium company, LitioMx, to create a joint venture. The objectives of both companies are aligned as both countries are seeking for Mexico to become a lithium mining country as fast as possible. 

Advance Lithium has lithium and potassium salt lakes in the center of Mexico, trapped in clay deposits that start right at the surface. The company has the rights to use a patent-pending lithium and potassium extraction method at its salt flats, adding water to the clay and agitating it to release the lithium and potassium from the clay. The process uses electrical separation for a concentrate of lithium, potassium and water to be produced. In the end, an organic compound is added to the concentrate to separate the lithium and potassium from the water. 

This water can be recycled numerous times for the same process. In addition, the electrical process does not need a lot of power, so solar energy can generate the required electricity.

The company has determined that the deposits have minerals at the surface and continue to depth, at times finding higher grades of lithium and potassium. Advance Lithium began its projects in early 2021, but the government has since nationalized all new lithium production by changing the Mining Law. Although this has been challenging, the company is working to reach an agreement with the government and discuss a joint venture.

“Based on our discussions with LitioMx, I believe there is a path to making a joint venture happen in the near term. Battery manufacturing is ramping up in Mexico and domestic source of lithium to supply the coming demand will be crucial. We believe we have the potential to be part of these efforts and working with LitioMx would be the quickest way to make that a reality,” said Allan Barry, CEO, Advance Lithium. 

The company also reported that a demonstration plant is currently being built in Zacatecas by a group of metallurgists with experience working for major Mexican mining companies. The private company will use the plant to show potential partners, shareholders and other parties its method to extract lithium and potassium.