VANCOUVER, BC, Jan. 21,
2025 /CNW/ - Century Lithium Corp.
(TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z)
(Century Lithium) is pleased to announce it signed a
non-binding memorandum of understanding (MOU) with Orica Specialty
Mining Chemicals (Orica) on January 16,
2025. The non-binding MOU outlines the intent of Century
Lithium and Orica to formalize a multiyear offtake agreement for
Orica to purchase sodium hydroxide (NaOH) from Century Lithium's
wholly owned Angel Island project near Silver Peak, Nevada. Orica is one of the world's leading
mining and infrastructure solutions providers, and a major US
manufacturer and supplier of specialty mining chemicals to
Nevada's mining industry.
"The non-binding MOU with Orica marks a key milestone for Angel
Island," said Century Lithium President and CEO, Bill Willoughby. "The MOU outlines the first
expected agreement of its kind for the project and involves a large
portion of the surplus sodium hydroxide anticipated during the
early years of operation. We are excited to work with Orica and
have their support at this stage of development at Angel
Island."
Orica President Specialty Mining Chemicals Andrew Stewart said:
"This collaboration signifies our commitment to strengthening and
unlocking Nevada's manufacturing
and mining sectors. By securing a reliable source of sodium
hydroxide from Angel Island, we strengthen the local supply chain
and reinforce our dedication to innovative US manufacturing
solutions for our customers in North
America."
Century Lithium patent-pending process for extracting lithium
from the claystone at Angel Island combines chloride leaching with
direct lithium extraction and uses salt, in the form of solid
sodium chloride or saline brine, to make the reagents for leaching
and pH control. In addition to lithium, the process produces
surplus sodium hydroxide, the sales of which are anticipated to
underpin low operating costs for Angel Island's primary product,
lithium carbonate.
Highlights of MOU
- Century Lithium to intends to provide Orica membrane-grade
sodium hydroxide (NaOH)
- Initial 5-year term, right of first offer for an additional 5
years
- Pricing to be determined by definitive agreement
- Orica – Century Lithium relationship will strengthen the U.S.
supply chain, reducing reliance on imports of NaOH to the western
U.S. and supporting Nevada's
mining industry
ABOUT ORICA
Orica (ASX: ORI) is one of the world's leading mining and
infrastructure solutions providers. From the production and supply
of explosives, blasting systems, specialty mining chemicals and
geotechnical monitoring to our cutting-edge digital solutions and
comprehensive range of services, we sustainably mobilize the
earth's resources.
Operating for more than 150 years, today our 14,000+ global
workforce supports customers across surface and underground mines,
quarry, construction, and oil and gas operations.
With a sodium cyanide manufacturing plants located in
Winnemucca, Nevada and
Alvin Texas, Orica is now the
world's largest producer of sodium cyanide and supplier to the
Nevada mining industry, a leader
in U.S. gold production. Find out more
about Orica: www.orica.com
ABOUT CENTURY LITHIUM CORP.
Century Lithium Corp. is an advanced stage lithium company,
focused on developing its wholly-owned Angel Island project in
Esmeralda County, Nevada, which
hosts one of the largest sedimentary lithium deposits in
the United States. The Company has
utilized its patent-pending process for chloride leaching combined
with direct lithium extraction to make high purity lithium
carbonate product samples from Angel Island lithium-bearing
claystone on-site at its Pilot Plant in Amargosa Valley, Nevada.
Angel Island is one of the few advanced lithium projects in
development in the United States
to provide an end-to-end process to produce battery quality lithium
carbonate for the growing electric vehicle and battery storage
market. Angel Island is currently in the permitting stage for a
three-phase feasibility-level production plan expected to yield an
average of 34,000 tonnes per year of lithium carbonate over a
40-year mine-life.
Century Lithium trades on both the TSX Venture Exchange under
the symbol "LCE" and the OTCQX under the symbol "CYDVF"; and on the
Frankfurt Stock Exchange under the symbol "C1Z". To learn more,
please visit: centurylithium.com.
ON BEHALF OF CENTURY LITHIUM CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
Cautionary Note Regarding Forward-Looking
Statements
This release contains certain forward-looking statements
within the meaning of applicable Canadian securities legislation.
In certain cases, forward-looking statements can be identified by
the use of words such as "plans", "expects" or "does not
anticipate", or "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" and similar expressions suggesting future outcomes or
statements regarding an outlook.
Forward-looking statements relate to any matters that are not
historical facts and statements of our beliefs, intentions and
expectations about developments, results and events which will or
may occur in the future, without limitation, statements with
respect to the potential development and value of the Project and
benefits associated therewith, statements with respect to the
expected project economics for the Project, such as estimates of
life of mine, lithium prices, production and recoveries, capital
and operating costs, IRR, NPV and cash flows, any projections
outlined in the Feasibility Study in respect of the Project, the
permitting status of the Project and the Company's future
development plans.
These and other forward-looking statements and information
are subject to various known and unknown risks and uncertainties,
many of which are beyond the ability of the Company to control or
predict, that may cause their actual results, performance or
achievements to be materially different from those expressed or
implied thereby, and are developed based on assumptions about such
risks, uncertainties and other factors set out
herein. These risks include those described under the
heading "Risk Factors" in the Company's most recent annual
information form and its other public filings, copies of which can
be under the Company's profile at www.sedarplus.com. The
Company expressly disclaims any obligation to
update-forward-looking information except as required by applicable
law. No forward-looking statement can be guaranteed and actual
future results may vary materially. Accordingly, readers are
advised not to place reliance on forward-looking statements or
information. Furthermore, Mineral Resources that are not Mineral
Reserves do not have demonstrated economic viability.
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SOURCE Century Lithium Corp.
