Standard Lithium Ltd. (“Standard Lithium” or the
“Company”) (TSXV: SLI) (NYSE American: SLI) (FRA: S5L), an
innovative technology and lithium project development company,
provides an update on its first commercial lithium plant in
Arkansas.
Key Highlights:
- Front End Engineering Design (FEED) and Definitive
Feasibility Study (DFS) for the first commercial plant awarded to
Optimized Process Designs (OPD)
- OPD is a Koch Engineered Solutions (KES) business
specializing in engineering, procurement, fabrication and
construction of commercial facilities
- OPD will be further supported in process engineering by
M3 Engineering
- Contract award allows for conversion to a lump sum
turnkey EPC contract
The Company completed a competitive FEED/DFS
selection process and is pleased to award the contract to OPD LLC,
a Koch-owned business based in Katy, Texas. The FEED/DFS study and
subsequent EPC contract are focused on the first commercial lithium
project being developed by Standard Lithium. This project
contemplates processing the brine that is currently being handled
by Lanxess at its South Facility, where the Company’s continuously
operating pre-commercial Direct Lithium Extraction (DLE)
Demonstration Plant is located. The existing brine flow
at this location is approximately 3,000 US gallons per minute
(usgpm), and using the design criteria of 90% lithium recovery
during the DLE process, results in expected annual production of
between 5,000 to 6,000 tonnes per annum (TPA) of battery quality
lithium carbonate. This first project at Lanxess South, designated
as Phase 1A, forms part of a staged development of commercial
lithium projects contemplated by Standard Lithium:
- Phase 1A
Existing brine flow at Lanxess South Plant (design 5-6,000 TPA
lithium carbonate);
- Phase 1B
Expansion at Lanxess South Plant (expected approximately 5,000
TPA);
- Phase 2 Lanxess
West Plant (reference SLL Lanxess PEA dated August 6th, 2019);
and,
- Phase 3 Lanxess
Central Plant (reference SLL Lanxess PEA dated August 6th,
2019).
In parallel, Standard Lithium is also
contemplating standalone projects;
- South West
Arkansas Project (current design contemplates 30,000 TPA lithium
hydroxide; reference SLL SWA PEA dated November 26th, 2021);
and,
- Other
development projects being investigated by the Company.
OPD have engaged M3 Engineering, based in
Tucson, Arizona, which will provide additional specialist process
and chemical engineering expertise in relation to Phase 1A. Other
companies within the Koch Engineered Solutions group will also
provide support during the study.
The FEED study will initially consider various
process optimization and trade-off studies, after which the design
of the facility will be advanced sufficiently to support the
delivery of a Definitive Feasibility Study (DFS) and final
investment decision (FID) process. At conclusion of the study it is
expected the design will be sufficiently developed to allow
conversion of the FEED study into a lump-sum engineering,
procurement and construction (EPC) contract. The results of the
FEED study will be summarized in a NI 43-101 DFS report in H1
2023.
Dr. Andy Robinson, President and COO of Standard
Lithium commented, “The award of this FEED study marks a
significant milestone for Standard Lithium as it moves the Company
and all our project partners closer to commercialization. Our
internal project team went through a rigorous competitive selection
process, and we are delighted to work with OPD and its partners in
KES and M3 Engineering to design our first commercial facility and
move towards an EPC contract and then to construction. The
selection process and study award are further examples of Standard
Lithium’s commitment to disciplined and responsible project
development. Commercial discussions with Lanxess that will support
the construction and operation of the first commercial plant are
ongoing, as are all supporting studies such as permitting,
geotechnical investigations and engineering integration with
Lanxess’ existing infrastructure.”
Brian Boster, President of Optimized Process
Designs, added, "OPD is excited to be moving forward with the
Standard Lithium team on this world class project. Our successful
project execution strategies and turn-key approach to engineering,
procurement, and construction will add significant value to the
project. As part of KES, we are well positioned to provide a full
range of support as we work closely with Standard Lithium and M3
through FEED and project execution.”
About Standard Lithium Ltd.
Standard Lithium is an innovative technology and
lithium development company. The Company’s flagship project is
located in southern Arkansas, where it is engaged in the testing
and proving of the commercial viability of lithium extraction from
over 150,000 acres of permitted brine operations. The Company
operates its first-of-a-kind industrial-scale Direct Lithium
Extraction (DLE) demonstration plant at Lanxess’s south plant
facility in southern Arkansas. The demonstration plant utilizes the
Company’s proprietary LiSTR technology to selectively extract
lithium from Lanxess’s tail brine. The demonstration plant is being
used for proof-of-concept and commercial feasibility studies. The
scalable, environmentally friendly process eliminates the use of
evaporation ponds, reduces processing time from months to hours and
greatly increases the effective recovery of lithium. The Company is
also pursuing the resource development of over 30,000 acres of
separate brine leases located in southwest Arkansas, referred to as
the South West Arkansas Lithium Project, and approximately 45,000
acres of mineral leases located in the Mojave Desert in San
Bernardino County, California.
Standard Lithium is jointly listed on the TSX
Venture Exchange and the NYSE American under the trading symbol
“SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”.
Please visit the Company’s website
at https://www.standardlithium.com.
About Optimized Process
Designs
Optimized Process Designs (OPD) provides clients
with detailed engineering packages in all disciplines, single point
procurement for all equipment and materials, fabrication and
direct-hired construction services at project locations
throughout the United States. With a long history of
successfully completing projects on a lump-sum, turn-key contract
basis, their customers value their ability to provide shortened
project cycles through streamlined execution plans. For more
information about OPD, please visit www.opdepc.com.
About Koch Engineered
Solutions
Koch Engineered Solutions (KES) delivers
superior value in developing, integrating and applying innovative
technical and service solutions for industrial value chains. KES
offers uniquely engineered solutions in construction; mass and heat
transfer; combustion and emissions controls; filtration;
separation; materials applications; automation and actuation. Based
in Wichita, Kansas, KES is a subsidiary of Koch Industries,
one of the largest private companies in the world. More information
is available at KochEngineeredSolutions.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news release may contain certain
“forward-looking statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities laws. When used in this news
release, the words “anticipate”, “believe”, “estimate”, “expect”,
“target, “plan”, “forecast”, “may”, “schedule” and other similar
words or expressions identify forward-looking statements or
information. These forward-looking statements or information may
relate to plans at the Lanxess South Facility and the South West
Arkansas Project, the award of the FEED and DFS contract, future
prices of commodities, accuracy of mineral or resource exploration
activity, reserves or resources, regulatory or government
requirements or approvals, the reliability of third party
information, continued access to mineral properties or
infrastructure, fluctuations in the market for lithium and its
derivatives, changes in exploration costs and government regulation
in Canada and the United States, and other factors or information.
Such statements represent the Company’s current views with respect
to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the
Company, are inherently subject to significant business, economic,
competitive, political and social risks, contingencies and
uncertainties. Many factors, both known and unknown, could cause
results, performance or achievements to be materially different
from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements. The
Company does not intend, and does not assume any obligation, to
update these forward-looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affections such statements and information other than as
required by applicable laws, rules and regulations.
For further information contact:
LHA Investor Relations
David Barnard
+1 415-433-3777
standardlithium@lhai.com
info@standardlithium.com
Twitter: @standardlithium
LinkedIn: https://www.linkedin.com/company/standard-lithium/
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