VANCOUVER, BC, Jan. 21, 2025 /PRNewswire/ - Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium) is pleased to announce it signed a non-binding memorandum of understanding (MOU) with Orica Specialty Mining Chemicals (Orica) on January 16, 2025. The non-binding MOU outlines the intent of Century Lithium and Orica to formalize a multiyear offtake agreement for Orica to purchase sodium hydroxide (NaOH) from Century Lithium's wholly owned Angel Island project near Silver Peak, Nevada. Orica is one of the world's leading mining and infrastructure solutions providers, and a major US manufacturer and supplier of specialty mining chemicals to Nevada's mining industry.
Century Lithium and Orica Specialty Mining Chemicals Sign Mou For Sodium Hydroxide from Angel Island (CNW Group/Century Lithium Corp.)
"The non-binding MOU with Orica marks a key milestone for Angel Island," said Century Lithium President and CEO, Bill Willoughby. "The MOU outlines the first expected agreement of its kind for the project and involves a large portion of the surplus sodium hydroxide anticipated during the early years of operation. We are excited to work with Orica and have their support at this stage of development at Angel Island."
Orica President Specialty Mining Chemicals Andrew Stewart said: "This collaboration signifies our commitment to strengthening and unlocking Nevada's manufacturing and mining sectors. By securing a reliable source of sodium hydroxide from Angel Island, we strengthen the local supply chain and reinforce our dedication to innovative US manufacturing solutions for our customers in North America."
Century Lithium patent-pending process for extracting lithium from the claystone at Angel Island combines chloride leaching with direct lithium extraction and uses salt, in the form of solid sodium chloride or saline brine, to make the reagents for leaching and pH control. In addition to lithium, the process produces surplus sodium hydroxide, the sales of which are anticipated to underpin low operating costs for Angel Island's primary product, lithium carbonate.
Highlights of MOU
Century Lithium to intends to provide Orica membrane-grade sodium hydroxide (NaOH)
Initial 5-year term, right of first offer for an additional 5 years
Pricing to be determined by definitive agreement
Orica – Century Lithium relationship will strengthen the U.S. supply chain, reducing reliance on imports of NaOH to the western U.S. and supporting Nevada's mining industry
ABOUT ORICA
Orica (ASX: ORI) is one of the world's leading mining and infrastructure solutions providers. From the production and supply of explosives, blasting systems, specialty mining chemicals and geotechnical monitoring to our cutting-edge digital solutions and comprehensive range of services, we sustainably mobilize the earth's resources.
Operating for more than 150 years, today our 14,000+ global workforce supports customers across surface and underground mines, quarry, construction, and oil and gas operations.
With a sodium cyanide manufacturing plants located in Winnemucca, Nevada and Alvin Texas, Orica is now the world's largest producer of sodium cyanide and supplier to the Nevada mining industry, a leader in U.S. gold production. Find out more about Orica: www.orica.com
ABOUT CENTURY LITHIUM CORP.
Century Lithium Corp. is an advanced stage lithium company, focused on developing its wholly-owned Angel Island project in Esmeralda County, Nevada, which hosts one of the largest sedimentary lithium deposits in the United States. The Company has utilized its patent-pending process for chloride leaching combined with direct lithium extraction to make high purity lithium carbonate product samples from Angel Island lithium-bearing claystone on-site at its Pilot Plant in Amargosa Valley, Nevada.
Angel Island is one of the few advanced lithium projects in development in the United States to provide an end-to-end process to produce battery quality lithium carbonate for the growing electric vehicle and battery storage market. Angel Island is currently in the permitting stage for a three-phase feasibility-level production plan expected to yield an average of 34,000 tonnes per year of lithium carbonate over a 40-year mine-life.
Century Lithium trades on both the TSX Venture Exchange under the symbol "LCE" and the OTCQX under the symbol "CYDVF"; and on the Frankfurt Stock Exchange under the symbol "C1Z". To learn more, please visit: centurylithium.com.
ON BEHALF OF CENTURY LITHIUM CORP. WILLIAM WILLOUGHBY, PhD., PE President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" and similar expressions suggesting future outcomes or statements regarding an outlook.
Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statements with respect to the potential development and value of the Project and benefits associated therewith, statements with respect to the expected project economics for the Project, such as estimates of life of mine, lithium prices, production and recoveries, capital and operating costs, IRR, NPV and cash flows, any projections outlined in the Feasibility Study in respect of the Project, the permitting status of the Project and the Company's future development plans.
These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein.These risks include those described under the heading "Risk Factors" in the Company's most recent annual information form and its other public filings, copies of which can be under the Company's profile at www.sedarplus.com. The Company expressly disclaims any obligation to update-forward-looking information except as required by applicable law. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place reliance on forward-looking statements or information. Furthermore, Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
