Infinity Lithium Corporation's wholly-owned subsidiary, Extremadura New Energies has sealed a collaborative agreement with Asemtraex – the Association of Transport Entrepreneurs of Extremadura – that will see the duo team up to encourage economic development in the freight sector of Cáceres, Spain.
According to the company, the work could foster economic growth, drive down unemployment and generate career opportunities for the township.
Infinity Lithium is looking to establish a lithium processing plant in the region and says the facility could provide the fuel to drive Cáceres to the summit of development in the area and help to lure other businesses to the township.
The company says the development of the San José processing facility requires a considerable amount of material transfers that will be heavily reliant on transportation logistics to move raw materials and products.
Under the deal, both parties will collaborate on the founding of a transport logistics centre in Cáceres and the pair also believe the project could boost both direct and indirect activity in a variety of sectors outside of freight.
In turn, Asemtraex says its members will benefit through priority access to Extremadura's energy storage, electric mobility and renewable energy courses which will be offered through the European Battery Alliance's Battery Academy.
Infinity has also announced a collaboration agreement with sustainable energy solutions provider EIT InnoEnergy to implement the training courses and says it will look to issue, promote and deliver the courses that cover a wide range of topics including technology, business and innovation in the battery and hydrogen sectors.
The San José lithium project is a fully-integrated industrial venture focused on the production of battery-quality lithium compounds from a mica feedstock.
The venture boasts one of Europe's largest JORC compliant hard-rock lithium resources, with a massive 111 million tonne lithium oxide resource grading 0.61 per cent lithium oxide.
The project was initially put on hold last year due to worries it was too close to the Cáceres township and the company has since made significant strides in gaining community support as it looks to breathe new life into the operation.
Infinity Lithium has been busy of late with another subsidiary, Infinity GreenTech, inking a deal with Murdoch University that will see the group progress test work on a sustainable lithium chemical conversion process called “GreenTech RPK”.
Success with Murdoch could resurrect lithium projects currently considered unviable and boost the economics and environmental credentials of a number of ventures, including its San José endeavour.
Infinity looks to be getting all its ducks in a row to position its San José project as a key European source of lithium and with electric vehicle registration in the region on the rise, the timing could turn out to be sublime.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
