Join our daily newsletter At The Bell to receive exclusive market insights
- Arizona Lithium (AZL) signs a five-year lease with extension options for a lithium research centre in Tempe, Arizona
- The centre will include a building for research and development and is located about 15 kilometres southwest of Phoenix Sky Harbour International Airport
- AZL’s facility will focus on technological advancements in lithium processing and aims to advance the battery materials industry in Arizona
- Construction is expected to take four months and key processing steps will be operational by the fourth quarter of 2022
- Shares in Arizona Lithium were down 1 per cent to 9.9 cents as of 10:42 am AEST
Arizona Lithium (AZL) has signed a five-year lease with extension options for a lithium research centre in Tempe, Arizona.
Earlier this year, AZL committed to the US state of Arizona to build its research and processing facility, which will be part of its Big Sandy lithium project.
The centre will include a building for research and development and is located about 15 kilometres southwest of Phoenix Sky Harbour International Airport.
AZL’s facility will focus on technological advancements in lithium processing and aims to advance the battery materials industry in Arizona.
Construction is expected to take four months and key processing steps will be operational by the fourth quarter of 2022.
The research centre will showcase all the processing steps needed for a lithium project, in particular AZL’s Big Sandy and Lorsburg Project.
“We are already significantly advanced in the design of the facility and are currently
procuring equipment, with staff recruitment also underway,” Chief Technical Officer Brett Rabe said.
“We look forward to working with ore from the Big Sandy resource, and I am confident that the AZL Research Centre will act as a hub for technological advancement in the lithium industry and strategic collaborations.”
Managing Director Paul Lloyd said today marks a “significant milestone” for the development of Big Sandy and “for what we believe to be the lithium industry as a whole.”
“We have signed a long-term lease for the development of a research centre that will initially test the Big Sandy ore body, but we expect will ultimately test other lithium sources and become a centre for innovation within the lithium industry,” Mr Lloyd said.
“We note the support of the Arizona government, and particularly the Arizona
Commerce Authority, who have helped us with the research centre, as well as providing grants and incentives to further improve the economics.”
Shares in Arizona Lithium were down 1 per cent to 9.9 cents as of 10:42 am AEST.
