Lima, May 11, 2021.- The Canadian company American Lithium, which acquired the shares of its fellow Canadian Plateau Energy Metals, in charge of the Macusani uranium project and the Falchani lithium project in Puno (Peru), announced that it will give priority to the development of the latter initiative.
Prior to the corporate merger, both projects (Falchani and Macusani) were expected to invest US$ 887 million.
According to the investment portfolio of the Ministry of Energy and Mines (Minem), the Falchani project expects an investment of US$ 587 million, while Macusani is expected to reach US$ 300 million.
The first laboratory for mineral analysis in a South American port is in Peru
American Lithium will now prioritize the Falchani lithium project - the most advanced project - over the Macusani uranium project. It should be noted that the US$ 587 million earmarked for Falchani corresponds to the first phase of the project, as a study commissioned by Plateau Energy to an Australian consulting firm determined that the overall investment could reach up to US$ 2,089 million.
According to Minem, it is possible to extract 23,000 metric tons of lithium carbonate per year at Falchani, with a mine life of 26 years (although the consultant’s study estimates 33 years and 85,000 tons per year).
The purchase agreement between the mining companies, which became effective as of May 11, 2021, implies that Plateau Energy will become “a wholly owned subsidiary of American Lithium”.
Plateau Energy is the parent company of Macusani Yellowcake, a mining company that operates and manages the Falchani lithium project and the Macusani uranium project in the Puno region.
The new company will be led by Simon Clark as CEO and by Andrew Bowering as Chairman of the Board. It will also add Laurence Stefan, founder of Plateu Energy, as Chairman and CFO.