Standard Lithium shares rise after being selected for $225m award negotiation by DOE

Standard Lithium (TSXV: SLI, NYSE: SLI) and Equinor announced on Friday that their jointly owned US subsidiary, SWA Lithium LLC, has been selected to enter negotiations for a funding award of up to $225 million from the US Department of Energy.The funding is intended to support the construction of the central processing facility for Phase 1 of the South West Arkansas project, located in Lafayette and Columbia Counties, Arkansas.Phase 1 aims to produce 22,500 tonnes of battery-grade lithium carbonate annually, using Direct Lithium Extraction (DLE) technology.Ownership of the South West Arkansas project is divided between Standard Lithium, holding 55%, and Equinor, holding 45%.The funding is one of the largest awards ever granted to a US critical minerals project. It is part of the second wave of funding under the Infrastructure Investment and Jobs Act, which seeks to expand domestic manufacturing across all segments of the battery supply chain and boost critical mineral production within the US.Standard Lithium plans to achieve a total annual output of 45,000 tonnes of lithium carbonate at South West Arkansas, to be developed in two phases of 22,500 tonnes each.Standard Lithium noted that a Definitive Feasibility Study (DFS) and Front-End Engineering Design (FEED) are currently underway to support this expansion.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com