Lake Resources says Argentina lithium project work proceeding

Lake Resources NL

19/09/2022 24:58

Sept 19 (Reuters) - Australia's Lake Resources NL  LKE.AX 
said on Monday work was proceeding at its Kachi lithium project
in Argentina, days after warning of a dispute with mining
partner Lilac Solutions over certain performance milestones.
    Last week, the Australian lithium developer said a dispute
had risen with Bill Gates-backed Lilac over a deadline of the
U.S. partner achieving some milestones to get a 25% stake in the
Kachi project.  urn:newsml:reuters.com:*:nL4N30L084
    Lake Resources said on Monday Lilac expected to start wet
commissioning of the demonstration plant later this week and
on-site processing of Kachi brines to begin in the first week of
October. 
    The company also confirmed that construction of a facility
to house the Lilac demonstration plant was now complete.
    Lake confirmed that offtake talks will continue to advance
and new appointments to the board are in final stages of
consideration.
    The company, which signed a deal with privately held Lilac
last September to jointly develop the Kachi project, said it had
exercised its rights to resolve the dispute either by agreement
or arbitration.  urn:newsml:reuters.com:*:nL4N2QN3J5
    

 (Reporting by Navya Mittal in Bengaluru; Editing by Subhranshu
Sahu)
 ((Navya.Mittal@thomsonreuters.com;))