Changes afoot for International Lithium Corp
International Lithium has announced that, a Mr. Maurice Brooks has been appointed to the Companys board of directors.
Mr. Brooks wa...
Changes at the top
International Lithium has announced that, a Mr. Maurice Brooks has been appointed to the Company’s board of directors.
Mr. Brooks was appointed interim Chief Financial Officer of the Company earlier this year. He is a licensed senior statutory auditor in the UK and has been a senior partner in Johnson, Smith & Co., Chartered Accountants and Statutory Auditors since 2000.
Previously, he was Finance and Deputy Managing Director of a vehicle producer, Investment Accountant to the Western Australian Government, and before that he had been employed in the audit department of PricewaterhouseCoopers – UK.
“Mr. Brooks brings a unique skill set to the board of directors of ILC and shares our vision to move beyond the high risk early exploration model of value creation,” stated Kirill Klip, Chairman, President and CEO of International Lithium Corp.
Mr. Brooks replaces Mr. Wayne Spilsbury, who resigned as a director of ILC on February 13, 2017. Mr. Spilsbury is also a director of Australian Stock Exchange-listed Pioneer Resources Limited a party to an option agreement with International Lithium Corp. on the Mavis and Raleigh pegmatite projects located in Ontario, Canada.
Building blocks to success
As part of the new model, ILC will continue to focus its efforts on the advancement of the Mariana Lithium Brine project in Argentina and the Avalonia Lithium Pegmatite project in Ireland together with strategic joint venture partner Ganfeng Lithium (“GFL”) in a manner that best suits the interests of both parties. Discussions are currently underway to identify the most effective structure in which to move these projects forward and to add value to both GFL and ILC.
ILC will also continue to focus on the advancement of the Mavis and Raleigh Lithium Pegmatite projects in Ontario, Canada with strategic partner Pioneer Resources Limited where the first hole of a recently announced drilling campaign has reported an intersection of spodumene bearing pegmatite
In addition to these ongoing value generators, ILC intends to build on the expertise it has gained in acquiring and advancing world class lithium prospects and will seek to extend its portfolio of strategic assets that are not restricted to early stage exploration prospects. The Company will now begin to pursue lithium (and possibly other strategic mineral interests related to the battery sector) projects, investments and royalties in partnerships with worldwide leaders in the battery making, electric car, energy and utilities industries.
ILC has begun building a team that will give it a significant advantage in assessing and acquiring the highest quality projects while maintaining a significant core strength of experienced and talented individuals possessing extensive experience in corporate governance and international finance.
“I am very pleased with how our strategic transition is moving forward at ILC,” states Kirill Klip, Chairman, President and CEO International Lithium Corp. “We are switching from a relatively low profit base of only managing exploration operations for the development of our J/V projects with our strategic partners to building a sizeable portfolio of strategic assets. Examples of our successful past record include the Mariana and Avalonia lithium projects which are being developed in conjunction with lithium industry leaders like Ganfeng Lithium, our strategic partner.
Expanding our focus to include investments in opportunities on a broader scale that may see mine production in the near term and seek financing in creative manners that restrict shareholder dilution to fund these acquisitions will be in alignment with our current partners and shareholders and give us an edge over other companies that are closely tied to specific exploration prospects.
This new business model will allow ILC to capitalise on the growth of our industry which is providing the material base for the ongoing Green Energy rEVolution. Lithium based energy storage technology is at the centre of the exponential growth in the markets for electric cars and Energy Storage Systems, which are providing the necessary technical solutions for solar and wind power generation that are intermittent in their nature.”
Making moves in mining
International Lithium is an active player in the mining space, with The Mariana project.
The project is a lithium-potash salar in Argentina, consisting of several contiguous mining claims covering an expansive 160 km2 project area, strategically encompasses the entire salar and a significant portion of the surrounding area to provide prospective land for a potential future processing plant facility
The January 2017 issue of Mining Global is live!
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Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.