Jupiter Lithium Ltd., a UK-based company owning Basin Mining Ltd. and Range Mining Ltd., has announced a partnership with ReElement Technologies Corporation, a wholly owned subsidiary of American Resources Corporation.
The collaboration aims to develop Nigeria’s first large-scale lithium deposit, covering 442 square kilometres of lithium-rich terrain.
In a statement yesterday, Jupiter Lithium said the project is set to significantly enhance production capacity and support a thriving local industry.
“Jupiter Lithium plans to expand its operations from contract mining to large-scale ownership, including the construction of a spodumene concentrator facility. The facility is expected to produce an initial 55,000 tons of 6% lithium spodumene concentrate annually, with production set to increase to 167,000 tons within two years. The first concentrate is anticipated in the first quarter of 2025,” the statement read.
- Organisers suspend #EndBadGovernance protest in Lagos, Osun
- Mutfwang seeks dialogue with protest leaders in Plateau
Mark Jensen, CEO of ReElement Technologies, highlighted the importance of this partnership in fostering advanced manufacturing in the region.
“We are thrilled to establish our first large-scale spodumene supply partnership and refine it locally,” Jensen said.
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.