Lithium Energy Secures Environmental Approval for Further Exploration at Solaroz, Argentina

With these advancements, Argentina continues to solidify its role as a strategic player in global lithium production, attracting international investors and reinforcing its commitment to sustainable mining practices.

Australia’s Lithium Energy Limited (ASX: LEL) has received final approval for its Environmental Impact Assessment (EIA) to advance exploration and evaluation at its Solaroz lithium brine project in Argentina.

Key Approvals for the Development Phase

The company announced that the approvals cover the Central and Northern blocks of the project, areas that host the majority of the identified lithium resources at Solaroz. These blocks will be the primary focus of upcoming development activities, enhancing extraction potential in one of the world’s most promising lithium production regions.

Multi-Million-Dollar Agreement with CNGR Netherlands New Energy Technology

This environmental milestone aligns with the previously announced agreement between Lithium Energy and CNGR Netherlands New Energy Technology (CNNET) for the sale of a 100% stake in Solaroz. The transaction is valued at $63 million (approximately A$100 million) in cash, strengthening the Australian company’s asset monetization and growth strategy.

Under the agreement terms, CNNET will fund local operations and the next development stages of the project, starting in 2023. Additionally, the company will provide up to $15 million (A$24 million) in loan funding to support Solaroz’s operations.

Strategic Location Within the “Lithium Triangle”

The Solaroz project is located in northwestern Argentina, within the well-known “Lithium Triangle,” a region that spans Argentina, Bolivia, and Chile and hosts some of the world’s largest lithium brine deposits.

The collaboration between Lithium Energy and CNNET now focuses on implementing a work program aligned with the approved environmental assessment, ensuring operations meet the regulatory and environmental standards required in the region.

Other Assets of Lithium Energy

In addition to the Solaroz project, Lithium Energy also owns the Burke graphite project in Queensland, Australia, strengthening its position in the critical materials sector for battery production and global electrification.