- June 10, 2021
- Posted in NEWS
Prospect Resources has completed 92 per cent of the work required to commence production at the Arcadia Lithium pilot plant and has invited President Mnangagwa, to preside over the expected first production of high purity petalite from the Pilot Plant sometime this month.
According to the company Managing Director, Sam Hosack, Pilot Plant development works are progressing on schedule and on budget with approximately 92 per cent complete on Engineering, Procurement and Construction (EPC) scope.
“The Arcadia Project team has continued to meet the development timeline and I’m pleased to announce that we have completed approximately 92% of the works required to commence production at our Pilot Plant. With lithium market sentiment and prices having increased through 2021, a strong cash balance and the Company being shovel-ready to develop the Arcadia Project, Prospect is well-positioned to make the transition to development and production,” Hosack said.
Prospect has appointed the operations team for the Pilot Plant, with key personnel holding significant lithium operational experience.
The Company’s offtake partner Sibelco has requested additional tonnes over and above the original planned 200t so that they can seek qualification with a greater number of customers across Europe and Asia.
The early delivery of product will ensure homologation can be achieved in the customers’ production process and will establish clear additional demand for the product within the industry which will assist Prospect in leveraging the value of the Arcadia project as the world leader in the supply of this and it’s high-quality spodumene products.
Prospect has had expanded engagement with a range of strategic groups from across Japan, China, and Europe in recent months who have an interest in spodumene offtake and assisting with the development of the project.
The Company is also set to produce laboratory spodumene samples for a number of these parties over the coming weeks to facilitate further due diligence on the Arcadia Project.
The Company looks forward to welcoming the President, government officials and existing offtake partners to the site for the ceremony.