TECHNOLOGY

FMC Lithium retreats from E3 Metals pact

Development partner pulls out due to "resource and capital allocation considerations".

This article is 4 years old. Images might not display.

E3 said the subsidiary of US chemicals group Livent Corporation cited "resource and capital allocation considerations" as the reasons forcing it to withdraw.

E3 is developing direct recovery lithium brine projects in Alberta. Its oilfields brine resource, the Leduc reservoir, has 6.7 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources.  

The area was historically used for its oil and gas deposits, and E3 plans to leverage this existing infrastructure in extraction and production.

Despite opting out of the existing agreement, Livent has expressed interest to E3 Metals in working together to further advance the DLE technology under a different deal structure, the company said in a statement.

E3 will continue to deploy the DLE technology as planned.

The Calgary testing facility will be opened in early 2021 and work will continue towards construction and operation of the field pilot plant.

All licenses and rights to the technology will be retained and returned entirely to E3.

E3 Metals will also no longer be obligated to issue Livent a 19.9% stake in the company.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

editions

Mining Magazine Intelligence: Automation and Digitalisation Report 2024

Exclusive research for Mining Magazine Intelligence Automation and Digitalisation Report 2024 shows mining companies are embracing cutting-edge tech

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets