War for lithium: Lusorecursos counter-attacks and advances to final license
Litigation between the companies that were involved in Sepeda exploration is being made in court on several fronts. DGEG has to assess whether Braga company is able to proceed with the contract. LUÍSA PINTO
November 17, 2017, 6:32
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The dispute led to the hiring of members of a private security company by HF New Lithium ADRIANO MIRANDA
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The Lusorecursos, Braga company that holds the prospecting contract and Lithium research Sepeda, Montalegre, says it has sent to the Directorate General for Energy and Geology (DGGE) the application for final award exploration. I had up to December 7 to do so, without losing the current license, at a time when interest in lithium in Portugal and in the world has been increasing rampant.
The news of the delivery of this license application - the PUBLIC failed to confirm with the DGEG - was given to the Court of Braga, the Lusorecursos. According to the reasoning given by the representatives of entrepreneurs António Marques, former president of the Industrial Association of Minho, and Ricardo Pinheiro, business consultant, the request for granting the concession of exploitation was delivered last Monday, almost on the eve of start the trial before the Court of Braga, the injunction to them was filed by New lithium, the former partner and current opposing this war by transmontano lithium. Race to lithium in Portugal has already become a police case
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At issue is a 75.581km2 exploration area that, according to the perspectives revealed by the New Lithium, the Australian company that was on the ground to do the geological surveys, may contain a deposit of ten million tons of ore lithium oxide with a degree of concentration of 1.2%. They are data that enhance the interest in the exploration area, but also help to realize the judicial litigation in which engaged their stakeholders.
It was the delivery of the request for grant of exploitation that justified the attempt by the Lusorecursos, to annul the process that it was brought by the Australian claiming to "adjudicate" the injunction that was there started to be discussed. The New Lithium asked quickly in assessing the process, failing to get the date of 7 December and the deadline given by the State for the prospecting contract could pass for exploration, subject to the license expires. Now the application lodged at the DGEG does fall to the ground this danger.
The DGEG now have to assess whether the Lusorecursos, the company who signed the exploration contract and research in December 2012's ability and feasibility of moving towards an operating license, given that for such needs to deliver various pieces procedural - including studies of environmental feasibility, mining plans, identification of a technical manager and its investment plan, among others. The outcome of this agreement ultimately earn even more interest as the government prepares to implement a new national strategy for lithium, taking advantage of some of the proposals that was suggested to him by a working group, whose report has already been delivered in March. READ MORE
According to made public information by DGEG since September, and according to the contract signed four years ago, the Lusorecursos fulfilled all legal obligations in terms of exploration of geological resources and respect the investment commitments that was required by the contract prospecting, the state would have to grant you the operating license. And that meant September statement, Lusorecursos had fulfilled their part so far, at least in the investments concerned, and that DGEG had already recognized investment 900 000 euros. However, and as president of the New Lithium, David Frances, he referred to PUBLIC, reiterating the information that has been publicly pay purse from Australia, where the New Lithium is listed, investments in Sepeda already exceed four million euros.
These works were made by Australians themselves after an agreement signed with the Lusorecursos that gave them the prospect that they will get the ownership of that concession. However, when the purchase and sale contract should be formalized, and notified to the State, as required by the law, Lusorecursos refused to recognize the validity of the contract and decided to continue the process alone. It is to do it by default not only the agreement signed with the New Lithium, but also in absentia of Sinergeo a company in geology service area and that was the first to create Lusorecursos. PUBLIC confirmed also Sinergeo is moving two judicial proceedings against their partners Lusorecursos. The court litigation will continue on several fronts. [email protected]
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