HARARE – Prospect Resources Ltd’s (ASX: PSC, FRA:5E8) Arcadia pilot plant program is nearing completion of construction, with approximately 92% work done on Engineering, Procurement, and Construction (EPC) scope.
The Arcadia Lithium Project located on the outskirts of Harare in Zimbabwe is one of the most advanced lithium projects globally.
Key commissioning and operational milestones expected to be achieved in June include complete crushing circuit commissioning, DMS module commissioning and first feed, commencement of production, and first shipment of high purity petalite product.
President Emmerson Mnangagwa is expected to preside over the first production of high purity petalite from the Pilot Plant this month.
Prospect Managing Director, Sam Hosack, said: “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.”
Prospect has already signed offtake agreements with some buyers, including one of the world’s largest suppliers of specialty minerals Sibelco, for its petalite product.
The Company said that 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 supply of this and it’s high quality spodumene products,” Prospect said.
Meanwhile, 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 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.
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