TNR Gold reaches milestone with Gangeng's Mariana lithium project on track for first production
London, UK
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April 11, 2024 07:19 AM Eastern Daylight Time
TNR Gold Corp executive chairman Kirill Klip tells Proactive's Stephen Gunnion the company will start generating its first royalty stream once the Mariana lithium project in Argentina commences production later this year, marking a major milestone for TNR Gold Corp. This development is pivotal as the company aims to establish itself within the green energy metals royalty and gold sector, Klip added.
The Mariana lithium project has been operational since January 2023. Owner Ganfeng Lithium has focused on increasing lithium concentration and constructing facilities capable of producing lithium chloride, targeting an annual output of 20,000 tonnes. Moreover, the operations are set to be entirely powered by renewable energy, with a 120-megawatt solar power plant being developed, expected to expand to 150 megawatts.
Klip also highlighted the positive shift in Argentina's business environment under the new presidency, emphasizing the country's growing attractiveness for mining investments. TNR Gold benefits from Argentina's enhanced business-friendly initiatives, alongside having a royalty on another significant project in the country, Klip said.
Addressing the lithium market, Klip noted the fluctuating prices but stressed the anticipated recovery and structural deficit due to the underestimation of supply by significant analysts. He underscored the strategic positioning of the Mariana lithium project, particularly for the production of lithium chloride, which is essential for the next generation of lithium solid-state batteries. These batteries are expected to enhance the efficiency and range of electric vehicles significantly.
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