Bacanora Minerals' jointly controlled entity, Deutsche Lithium, has been granted a 30-year mining licence covering 256.5 hectares of the Zinnwald lithium project in southern Saxony and close to the key German automotive and downstream lithium chemical industries.
Bacanora said recent testwork on Zinnwald concentrates had shown that a number of downstream lithium products could be produced from the ores, utilising chemicals and infrastructure available in the Dresden area.
It said that as part of the ongoing development of Zinnwald, a feasibility study was underway to develop a strategy to demonstrate the economic viability of producing higher value downstream lithium products for the European battery and automotive sectors and was expected to be completed in mid-2019.
Bacanora currently has a 50% interest in, and joint operational control, of the Zinnwald Lithium Project, with an option to acquire the remaining 50% of the Project.
At 8:17am: (LON:BCN) Bacanora Minerals Ltd Ord Npv di share price was +1.5p at 99.5p