Lithium Energy secures environmental nod for Solaroz development
ASX-listed Lithium Energy announced on Wednesday that it had secured the final environmental impact assessment (EIA) approvals for the next phase of exploration and evaluation activities at its Solaroz lithium brine project in Argentina.
The approvals cover the ‘Central Block,’ comprising the Chico I, V, and VI, Payo 2 South, and Silvia Irene concessions, as well as the ‘Northern Block,’ which includes the Payo 1 and Payo 2 North concessions. These areas, spanning 10 666 ha, host the majority of Solaroz’s existing lithium resources and will be the primary focus of the upcoming exploration programme.
The latest approvals follow the December 2024 clearance for activities at the Mario Angel and Payo concessions, enabling Lithium Energy to resume full-scale exploration and evaluation across all of its Solaroz concessions.
The EIA milestone aligns with the company’s previously announced agreement to sell its entire interest in Solaroz to CNGR Netherlands New Energy Technology (CNNET) for $63-million (about A$97-million) in cash. Under the amended sale terms, CNNET is responsible for funding local operations and the next phases of development from January 1, 2025, through a loan funding mechanism of up to $15-million.
Lithium Energy and CNNET were finalising a work programme consistent with the newly approved EIAs. The company said that further updates on the upcoming exploration, evaluation, and development activities would be provided once plans were confirmed.
The Solaroz project is located in Argentina’s Lithium Triangle, an area known for hosting some of the world's largest lithium brine deposits.
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