Mitsubishi Industries to Install Lithium Extraction Test Plant at Coldwater Mining and Energy's Principle Bolivian Site

Mitsubishi Industries to Install Lithium Extraction Test Plant at Coldwater Mining and Energy's Principle Bolivian Site

Coldwater Mining and Energy Limited have announced plans to install a test lithium extraction plant at their principal site in Bolivia. The plant is a project between Coldwater and Mitsubishi Industries which allows for lithium extraction to take place at a far more efficient way than current methods and also results in the production of a higher-purity, battery-grade lithium material.

The production plant will utilize an environmentally friendly method for subsurface brine extraction and lithium production that requires a significantly smaller footprint and reduces water consumption by over 85% compared to current methods for lithium extraction from brine.

Once fully installed, pilot tests have shown a reduction in production time from over a year to just a few weeks. Once proven, both companies expect this innovative process to create new market opportunities for all lithium extraction and improve battery manufacturing materials.

Furthermore, it is envisaged, that once fully operational, it will maximize the value of the world's leading lithium-rich resource bases with its cutting-edge patented extraction technology.

The global demand for battery-grade lithium is set to grow exponentially over the coming years, driven by growth in the electric vehicle (EV) market. EVs greatly depend on lithium-ion rechargeable batteries, sustainable and efficient lithium production has become an important topic for regions, industries and technology companies, as well as battery and large automotive manufacturers.

Mr. Paul K. Bettison, Director of Project Management with Coldwater Mining and Energy Limited said, "Our partnership with Mitsubishi presents an excellent opportunity to demonstrate a leap in production efficiency with a more sustainable approach."

"Mitsubishi's industrial expertise in the development of process technology is un-rivaled. Then, add to this their ability to deploy this technology at scale globally, Coldwater are playing a very important role in assisting with the innovation and efficiency of the lithium extraction process. We are currently accelerating the deployment of this pilot plant in response to the high market demand for battery-grade lithium material," Mr. Paul K. Bettison added.

Commissioning of the pilot plant will begin following receipt of all necessary permits which are anticipated to be in place by the 4th quarter of 2021.