New Lithium suspended in stock exchange to provide information...

New Lithium suspended in stock exchange to provide information on the project in Montalegre
Negotiations for the New Lithium stock, renamed the Australian miner Dakota Minerals since late May, were suspended until the company provided information on the status of its project in Sepeda, in the Transmontana region of Montalegre.

Shares of New Lithium, formerly Dakota Minerals, were suspended on Thursday, June 22, trading on the Australian stock exchange (ASX), Mining Weekly reported. The suspension occurred at the request of the company itself, according to a statement posted on the website of disallowed manager.
The company, which adopted this new designation at the end of May to reflect the biggest bet in Portugal, will have to provide information to ASX about the state of the project where it has been involved, in Sepeda (Montalegre, Trás-os-Montes).
This suspension of negotiations shall be in force until the following Monday, 26 June, in the same publication.
New Lithium said in May that its study of the project in Sepeda was almost complete, Engineering News notes, adding that the company said it was convinced that petalite deposits in Portugal offer economic advantages over deposits of espodumena Australia and Canada as they are closer to processing sites in Europe.
Last April 28, Dakota Minerals explained in a statement that after it sold the lithium prospecting project Lynas in Australia on 1 December, it had focused its operations on the European market with the aim of Of being a "sustainable supplier" of carbonate and lithium hydroxide in the Old Continent.
Later, on May 29, the company announced that the lithium ore mined at Sepeda prospecting had been considered suitable for the production of lithium-ion battery components.
According to the statement released by the company, the first metallurgy tests carried out in Germany showed that it may be possible to produce lithium carbonate - one of the elements used in the production of automotive batteries - with a purity of 99.97 % From the petalite extracted from that prospection in Trás-os-Montes.
This fact "reduces the risk of development" of the company's project in Portugal, he said. "The tests confirm that industry-standard and commercially proven standard methods for the production of lithium carbonate from Sepeda's petalite can be used," the statement said.
Portuguese lithium has been attracting several companies to the country. London-based Savannah mining company has become the latest operator to enter lithium prospecting - the metallic mineral used in the manufacture of batteries used in automotive and domestic electrification, and that may be an asset for Tesla to choose our Country to host its European factory - in Portugal.
Savannah announced on May 25 that it will acquire a 75% majority stake in Slipstream Investments, the company that holds the rights to exploit quartz, feldspar and lithium at Barroso Mine, Boticas County, Trás-os-Montes.
According to a statement posted on the company's website, there is an area of 542.12 hectares (5.42 square kilometers), in addition to four areas where licenses still need to be obtained and totaling over 1,018 kilometers of frames: Barroso, Serra d'Arga, Barca d'Arga and Tâmega.
The mine will already have an approved mining plan, in addition to the environmental impact study and license valid for 30 years from the date of concession, until 2036. And it will be "one of the most advanced lithium development projects in Europe with greater potential to quickly pass To the production phase ".
(News updated at 8:45 on June 23)