Lithium Energy Limited (ASX:LEL) Receives Final Environmental Approval for Solaroz Development
Environmental Approvals
Lithium Energy Limited has obtained Environmental Impact Assessment approval for the next phase of exploration and evaluation at the Solaroz Lithium Brine Project in Argentina. The approval covers the Central Block and Northern Block concessions, encompassing 10,666 hectares where most of the existing lithium resources are located.
Sale Agreement with CNNET
Under the amended sale agreement, Lithium Energy has sold its entire interest in Solaroz to CNGR Netherlands New Energy Technology B.V. for US$63 million (~A$97 million) in cash. CNNET will fund the local operations and future development phases, supported by a loan of up to US$15 million.
Future Development Plans
Lithium Energy and CNNET are collaborating to establish a suitable work programme in line with the approved EIAs. Further updates on exploration and development activities at Solaroz will be provided once the work programme is finalised.
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