Infinity Lithium (ASX:INF) has secured an additional long-term lease over land at the San José Lithium Project in Spain, covering a further 11 hectare area.
The $34.69 million market capitalisation company says the land rights acquisition was finalised following other ‘major’ project milestones, including an award of €18.8 million (A$31.07 million) in grant funding, urban compatibility report, and the submission of the mining licence application.
Extremadura New Energies Chief Executive Officer (CEO) Ramón Jiménez says: “The new land agreement is another major milestone for San José.
Collaboration with major local stakeholders continues and we are pleased to have finalised a new agreement to secure rights to an essential land package for the project.”
Infinity notes it has secured these land rights adjacent to those previously secured for the lithium chemical conversion plant and related processing activities.
The extension and consolidation of land rights follows the acquisition of data from works undertaken by the landowners, such as geophysical surveys and sampling campaigns over areas uncovered for tailings storage facilities.
Infinity Lithium is an Australian minerals explorer focused on facilitating the transition to sustainable new energies.
As of 31 December 2023, the company had $9.617 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Infinity Lithium
