Lithium Australia has announced its withdrawal from its non-binding Memorandum of Understanding (MoU) with European Metals Holdings Limited, pertaining to the Cinovec tin and lithium project in the Czech Republic.
The Perth-based company said the withdrawal from the project was the result of the parties’ failure to reach satisfactory commercial terms for the joint venture “anticipated to be the outcome of the MoU”.
The company also said that it is currently conducting numerous discussions in regard to its 100% owned Sileach process, which is designed to recover lithium from silicates without the expensive roasting step that has long been the main stay of the lithium recovery process.
Lithium Australia is a dedicated developer of disruptive extraction technologies. The company has in place strategic alliances with a number of companies, potentially providing access to a diversified lithium mineral inventory globally.