Atlas Lithium (NASDAQ: ATLX) Reaches Final Fabrication And Trial Assembly Stage For Its Modular Lithium Processing Plant
Detroit, Michigan
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May 14, 2024 08:45 AM Eastern Daylight Time
By Faith Ashmore, Benzinga
Atlas Lithium Corporation (NASDAQ: ATLX) announced that its advanced lithium processing plant utilizing dense media separation (DMS) technology has reached the final stage of fabrication. This groundbreaking modular design, a first in Brazil's lithium industry, streamlines the transportation, installation and commissioning processes. Notably, the plant's reduced height, weight and overall physical footprint also establish it as a premium option with a highly environmentally-conscious design.
A distinguishing feature of Atlas Lithium's processing plant is its innovative use of compact, preassembled modules, a concept the company says is unprecedented in the Brazilian lithium industry. This modular arrangement allows for a smaller physical footprint in contrast to conventional and older designs. It also facilitates optimized transportation, installation and commissioning processes – thus enhancing overall operational efficiency and significantly reducing any environmental footprint.
The expedited construction of this modular processing plant represents a crucial milestone in Atlas Lithium's strategic plan to swiftly advance toward production. With the final stages of fabrication and trial assembly underway, the plant is scheduled for shipment to the Neves project site, situated in Brazil's renowned Lithium Valley.
Brazil's Lithium Valley, part of the Jequitinhonha River Valley region of Minas Gerais state, holds considerable significance in the global lithium market. The region is attracting attention due to its large lithium deposits and potential for expansion. With the easing of export rules, Brazil anticipates substantial economic gains from lithium production in the Jequitinhonha Valley. For many investors, Brazil’s Lithium Valley is shaping up to be a promising target in the coming years, given that Brazil is estimated to hold the fifth-largest lithium reserves in the world.
Atlas looks set to soon become a producer of high-grade lithium concentrate, and such production should occur at a highly competitive cost.
"We are fully committed to becoming a producer of high-quality, environmentally sustainable lithium concentrate," said Brian Talbot, the company’s Chief Operating Officer and a Director. "Our experienced technical team has enabled us to pursue an accelerated development timeline as we rapidly advance towards initiating production in the fourth quarter of 2024. Seeing our modular processing plant entering the final fabrication and trial assembly stages is a major milestone. While the core DMS technology is well-established, the modular design we have adopted is an innovation in Brazil's lithium industry. It will help streamline our path to production and cash flow, while providing a much smaller environmental impact."
Featured photo courtesy of Atlas Lithium.
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