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  4. Arizona lithium and NTEC collaborate for US lithium project

Arizona lithium and NTEC collaborate for US lithium project

Published by , Editorial Assistant
Global Mining Review,

Arizona Lithium Limited, a company focused on the sustainable development of the Big Sandy Lithium project, has announced that it has entered a strategic alliance terms sheet with Navajo Transitional Energy Company, LLC (NTEC), a limited liability company wholly owned by the Navajo Nation. The strategic alliance terms sheet outlines the key terms of how it is proposed that NTEC will manage the development of Big Sandy from the permitting requirements for additional exploratory drilling through to definitive feasibility study (DFS) and mine construction. The terms sheet allows the commencement of initial work by both parties on the development of the Big Sandy project while providing time for further mutual due diligence (6 months) and the development of a final definitive agreement (as the strategic alliance terms sheet is non-binding and does not contain all material terms).

Commenting on the strategic alliance Managing Director, Paul Lloyd, said:

“We are extremely pleased to have entered a strategic alliance terms sheet with NTEC, as this represents a monumental breakthrough in the sustainable development of Big Sandy. Through our initial agreement, and subject to agreeing definitive agreements, NTEC will take over the operational development of Big Sandy and will manage all aspects from the permitting requirements for additional exploratory drilling process through to mine design, environmental assessments, construction, and contract mining operations for the project. We look forward to working with such an impressive and professional energy company as we continue to advance Big Sandy to lithium production. I would like to thank shareholders for their support to date and we look forward to an exciting 2023 for Arizona Lithium.”

Read the article online at: https://www.globalminingreview.com/mining/07122022/arizona-lithium-and-ntec-collaborate-for-us-lithium-project/

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US mining news Lithium mining news