LSC to Acquire Mina Teresa in Argentina

LSC Lithium Corp., together with its subsidiaries, has entered into a binding letter of intent to purchase all shares of Alqa Lithium S.A., the sole owner of the Mina Teresa project covering 2,595 hectares in the Salar de Salinas Grandes in Argentina’s Jujuy Province, for $2 million payable in three installments. Closing of the acquisition is expected to take place around December 15, but no later than the end of 2017.

Mina Teresa is located adjacent to LSC’s Cristina, San José and Mahoma leases. Following the transaction, LSC’s land package on the Salar de Salinas Grandes will total nearly 38,000 hectares and represent more than 50% of the salar surface.

LSC also recently announced it has obtained approval to commence its exploration program on the San José and Navidad concessions. These concessions cover a total area of 4,300 hectares and are part of a joint venture with Dajin Resources Corp. Now that LSC has access to the ground, an exploration program is currently being designed to investigate the presence of lithium-bearing brine and lithologies on the property. This includes the evaluation and the integration of historical data into the exploration target model. Thereafter, the program will potentially include geological mapping, surface sampling, a geophysical data acquisition phase, and a drilling phase to confirm the target generation results and potentially deliver a 43-101 Mineral Resource for the property.

LSC has amassed a large portfolio (300,000 hectares) of prospective lithium-rich salars located in the “lithium triangle,” an area at the intersection of Argentina, Bolivia, and Chile, where the world's most abundant lithium brine deposits are found.

 

Rio Tinto Signs Exploration Agreement With Minmetals

Rio Tinto and China Minmetals have signed a technical agreement, formalizing a collaborative partnership in minerals exploration. This action follows an agreement on global exploration that was signed in June that sets out the principles and framework for the parties to conduct potential collaboration.

Both companies said the signing of the technical collaboration agreement represents a significant step forward in the cooperative approach toward an international minerals exploration partnership, both inside and outside China.

Rio Tinto Chief Executive J-S Jacques and China Minmetals Chairman He Wenbo witnessed the signing of the technical collaboration agreement by Rio Tinto Australasia Exploration Director John Kilroe and Minmetals Exploration & Development President Wang Jionghui. Rio Tinto Corporate Relations Group Executive Simone Niven and China Minmetals Senior Vice President Li Fuli also witnessed the signing.

 

Canadian Zinc Expands Prairie Creek Project

Canadian Zinc Corp. has reported preliminary results from a feasibility study of its underground Prairie Creek zinc-lead-silver project in the Northwest Territories, Canada. The feasibility study expands on a preliminary feasibility study (PFS) completed in 2016 and confirms that the Prairie Creek project can support a significant increase in the mining rate and mill throughput, enabling production of higher quantities of zinc, lead and silver at lower operating costs than those presented in the PFS.

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Rocanville Expansion Creates World’s Largest Potash Mine

PotashCorp has completed an expansion at its Rocanville potash mine in southeast Saskatchewan, more than doubling nameplate capacity from 3 million metric tons per year (mt/y) to 6.5 million mt/y and creating the world’s largest potash mine. The $3 billion project included the first new mine shaft built in Saskatchewan since 1979, a new mill, a new 500,000-mt storage facility, new rail and rail loadout equipment, and conversion of the existing service shaft, used for people and materials, to a second production shaft, for bringing ore out of the mine.

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