Lithium-focused mining company Standard Lithium Ltd. (TSX.V: SLL) (FRA: S5L) (OTCQX: STLHF) this morning announced its entry into a Memorandum of Understanding with global specialty chemicals company Lanxess Corporation and its U.S. affiliate, Great Lakes Chemical Corporation. Per the update, the purpose of this MOU is to test and prove the commercial viability of extraction of lithium from brine that is produced as part of Lanxess’s bromine extraction business at its three Southern Arkansas facilities. “We are delighted to be entering into a cooperation with Lanxess, a highly-respected world leader in the specialty chemical sector,” Robert Mintak, CEO of Standard Lithium, stated in the news release. “Given the scale of the existing infrastructure and potential resource, the mitigation of project execution risks and acceleration of the Smackover project development timeline, this MoU represents an important step for Standard Lithium.”
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About Standard Lithium
Standard’s value creation strategy encompasses acquiring a diverse and highly prospective portfolio of large-scale domestic brine resources, led by an innovative and results-oriented management team with a strong focus on technical skills and modern brine processing technologies. The company is currently engaged in the exploration and resource development of the Bristol Dry Lake Lithium Project located in the Mojave region of San Bernardino County, California; the location has significant infrastructure in-place, with easy road and rail access, abundant electricity and water sources, and is already permitted for extensive brine extraction and processing activities. The company is also rapidly conducting resource evaluation on up to 33,000 acres of brine leases located in the Smackover Formation in Southern Arkansas. For more information, visit the company’s website at www.StandardLithium.com
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