TORONTO, May 29, 2017 /CNW/ - Enirgi Group Corporation ("Enirgi Group") announced that following initial commissioning of its commercial scale demonstration lithium carbonate processing plant (the "DXP Plant") at its flagship lithium project, the Salar del Rincón in Salta, Argentina (the "Enirgi Lithium Project"), the DXP Plant is now producing Lithium Carbonate (Li2CO3) on a daily basis. The final stages of commissioning are going to plan and the DXP Plant is currently ramping up to full design.
Highlights of the DXP Plant's first production:
- The DXP Plant is designed to produce battery grade lithium carbonate directly from raw, unconcentrated brine;
- The DXP Plant was operated using Enirgi Group's proprietary lithium extraction technology ("DXP Technology"), developed in-house by Enirgi Group's Innovation Division in cooperation with the Australian Nuclear Science and Technology Organisation ("ANSTO");
- Product was produced directly from raw, unconcentrated brine from the Salar del Rincón (no solar evaporation);
- Lithium Carbonate product was produced in less than 24 hours;
- A group of 5 Research Analysts from various Canadian and US Banks and Brokerage Firms participated in a site visit to the DXP Plant on May 25th to see the production of lithium carbonate.
Wayne Richardson, President & CEO, of Enirgi Group, said: "Our team continues to deliver extraordinary results since the start-up of the first section of the DXP Plant and we are extremely pleased to announce that we have produced first product of lithium carbonate. Progress continues to be made at a rapid pace as we ramp up to design footprint and work towards sign-off from our technology partner, ANSTO. Enirgi Group's mission since day one has been to produce lithium carbonate in less than 24 hours utilizing our proprietary DXP Technology. Developing a technology capable of this, was a considerable feat of ingenuity, engineering, and perseverance and we are proud to announce that we are the first in the industry to reach this feat and successfully produce lithium carbonate without the use of traditional solar evaporation techniques."
For an up-close look at the progress being made at the Enirgi Group's Lithium Project, please visit our website at www.enirgi.com
ABOUT ENIRGI GROUP
Enirgi Group is a privately held multinational conglomerate with six unique divisions that own and operate a portfolio of high-quality assets and operations located around the world. Enirgi Group's newly formed Advanced Materials Division is advancing the development of the Enirgi Lithium Project located in the province of Salta, Argentina. Enirgi Group is focused on developing innovative technologies to sustainably progress a number of development projects around the globe with the goal of becoming a leading low-cost, high quality producer of specialty chemicals and energy storage solutions.
Enirgi Group is wholly-owned by Sentient Group. The Sentient Group Limited is an independent private equity investment firm specializing in the global resources industry with over $2.7 billion of assets under management in metal, mineral and energy assets across the globe.
Forward Looking Statements
This news release contains forward-looking statements about Enirgi Group, Enirgi Lithium Project and its business. Forward looking statements are statements that are not historical facts and are based on certain assumptions relating, but not limited to: the timing of the final commissioning and successful operation of the DXP Plant, technology sign-off by ANSTO or other third parties, the duration of future production and performance of the DXP Plant, the timing of the final engineering, validation and construction of a commercial plant at Rincon, and anticipated mining and processing methods for the Enirgi Lithium Project. While Enirgi Group considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause Enirgi Group's actual results or achievements to differ materially from those expressed in or implied by forward looking statements. These risks, uncertainties and other factors include, without limitation, risks related to uncertainty in the demand for lithium and pricing assumptions; uncertainties relating to the development and implementation of new production technologies; uncertainties related to raising sufficient financing to fund the project in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; labour shortages or unrest; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Enirgi Lithium Project; uncertainties involved in the estimation of lithium reserves and resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; and risks related to projected project economics, recovery rates, and estimated NPV and anticipated IRR and other factors.
Forward-looking statements are based on the beliefs, opinions and expectations of Enirgi Group's management at the time they are made, and other than as required by applicable securities laws, Enirgi Group does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.
SOURCE Enirgi Group Corporation
For further information: Enirgi Group Corporation, Jessica Helm, VP Corporate Communications, 1 Adelaide Street East, Suite 3001, Toronto, Ontario, Canada M5C 2V9; P | + 1 416 365 2783, E | firstname.lastname@example.org, W | enirgi.com