The results of a scoping study into Spain’s San Jose lithium-tin project by Plymouth Minerals have proven fruitful, prompting the company to increase its interest from 50 to 75 per cent with partner Valoriza Minería.
Plymouth had previously announced that it intended to increase investment should the scoping study — a preliminary investigation representing 16 months of work — prove successful, at which point the company would announce a further feasibility study. Plymouth will fund the €2.5 million ($3.75 million) study in return for the aforementioned 25 per cent bump in interest.
Managing director of Plymouth Adrian Byass expressed his satisfaction with the result, stating that further potential from by-product credits could further enhance the already attractive findings of the report, making Plymouth a significant player in the European lithium market.
“This scoping study demonstrates that the San Jose lithium-tin project has significant production scale, long mine life [and] high margins,” he said. “The project is very well located in the Extremadura mining region of Spain, with excellent infrastructure and a burgeoning local market to supply lithium product.”
Should the project go ahead following completion of the feasibility study, Plymouth estimates initial project funding of $348 million may be required.