Ann: Agreement to acquire interest in lithium project, page-22

Spain huh? Somewhat my corner of the globe presently as I'm within 50 kms of their northern border. Have family ties there and speak read and write middling Spanish too.

It COULD be interesting given Castilla y Leon's statute as leading car producer, but be a bit aware and cautious with that one nonetheless.

Spain is not the most stable EU country politically. Other lithium projects there --- and elsewhere in Europe (eg.Serbia & Portugal) --- have experienced problems/delays/fierce environmentalist opposition and have thus far fallen on stony ground till now. Doubtless one of the reasons our beloved new chief Daniel Mamadou wants to offload 51% of this project which he currently owns onto GGG for a mere 3 million (I'd guess he's a well informed sort of dude !!!)

For example read this extract from an article filched from a Spanish publication "La Conversation" (translation courtesy of Google Translate)):

Lithium in Spain

In Spain there are important mineralizations of Li, located in Galicia, Castilla y León and Extremadura, which are usually related to highly evolved granitic bodies, such as pegmatites. There are also important concentrations of Li in hydrothermal veins and in rocks affected by metasomatic processes.

Li is found as part of the structure of silicate minerals, such as spodumene, petalite, lepidolite and zinnwaldite, and of phosphates, such as those belonging to the amblygonite-montebrasite series.

Since 2011 there is no active exploitation for the extraction of lithium in Spain. The latest production comes from Mina Feli, in La Fregeneda, in the province of Salamanca. It is a deposit of feldspar and lepidolite in pegmatitic dikes. According to data from the company that exploited the deposit, almost 8,000 tons of ore with 0.5% LiO₂ were obtained in 2010. The destination of the Li from the Mina Feli lepidolite was the ceramic industry in Castellón.

Despite the fact that there are no active mines for the extraction of Li in Spain, exploration projects for this metal have been carried out in recent years, with very significant resource and reserve estimates. In addition, some of these projects present novel aspects, such as the production of Li hydroxide, this refined lithium on which we are now completely dependent.

If we used our own mining resources, with the electric car and battery factories that are already in operation, we could establish the entire value chain of electric mobility in the country. In fact, the European Commission has highlighted the interest and strategic relevance that these lithium mine projects in Spain could have for the development of the automobile industry.

However, part of our society, motivated by a protectionist attitude towards the environment, rejects the execution of mining projects, preventing this activity from developing in a nearby environment. It is necessary to say that Spain, as well as the rest of the countries of the Union, has very restrictive legislation regarding the exploitation of mineral deposits, and a mine is not started up that does not guarantee the economic, social, cultural and environmental order of the territory.

Although recycling and reuse should play a fundamental role in the future, to meet current demand the contribution of mining is necessary. Our society must decide whether to exploit resources responsibly and reduce the sector's great dependence on imports, or to leave our deposits unused and continue buying raw materials, necessary for the ecological transition, from other producing countries. and at the price set by the international market.

This news was originally published on "The Conversation".

https://theobjective.com/sociedad/2021-11-27/espana-dilema-dependencia-exterior-litio/