{"id":55335,"date":"2022-02-24T12:01:38","date_gmt":"2022-02-24T12:01:38","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=87293"},"modified":"2022-02-24T12:01:38","modified_gmt":"2022-02-24T12:01:38","slug":"standard-lithium-and-lanxess-finalize-plan-for-first-commercial-lithium-project-in-arkansas","status":"publish","type":"post","link":"https:\/\/malaysiantribune.com\/standard-lithium-and-lanxess-finalize-plan-for-first-commercial-lithium-project-in-arkansas\/","title":{"rendered":"Standard Lithium and Lanxess Finalize Plan for First Commercial Lithium Project in Arkansas"},"content":{"rendered":"
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VANCOUVER, British Columbia, Feb. 24, 2022 (GLOBE NEWSWIRE) — Standard Lithium Ltd.<\/strong> (\u201cStandard Lithium<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) (TSXV: SLI) (NYSE.A: SLI) (FRA: S5L), an innovative technology and lithium project development company, has reached an agreement (the \u201cAgreement<\/strong>\u201d), dated February 23, 2022, with its strategic partner, LANXESS Corporation (\u201cLanxess<\/strong>\u201d), that streamlines and expedites the plan for development of the first commercial lithium project in Arkansas, which is to be constructed at an operational Lanxess facility in El Dorado, Arkansas (the \u201cProject<\/strong>\u201d). Under the Agreement, Standard Lithium will control all development of the Project leading up to and including the completion of the Front End Engineering Design (\u201cFEED<\/strong>\u201d) study. Standard Lithium will hold, at a minimum, a 51% majority equity stake in the Project and may retain as much as 100% of the Project. The Company will also retain 100% ownership of its South West Arkansas Project, all its proprietary extraction technologies, relevant intellectual property and know-how.<\/p>\n

Robert Mintak, CEO of Standard Lithium commented, \u201cThis agreement builds upon the successful working relationship that has been established between the companies. By entering into this Agreement, Standard Lithium takes ownership of the Project and its development timelines with a clear path towards delivering the first new commercial lithium production in the USA in over 50 years.<\/em>1<\/em><\/sup> We have already begun the process of engaging and integrating the strategic team members to make this project a success.\u00a0 With the recent investment from our largest shareholder, Koch Strategic Platforms,<\/em> we are fully funded to complete all planned Project milestones leading to a Definitive Feasibility Study, which is expected to be completed in Q4 2022<\/em>\u201d.<\/p>\n

Key Highlights:<\/strong><\/p>\n