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Boticas may be the largest lithium producer in Western Europe
Boticas municipality may have the largest lithium reserve in Western Europe, according to mining company Savannah Resources.
It is called espodumena, the ore found in Barroso Mine, and is one of the main sources of lithium. According to the British company, in Boticas there are at least 14 million tons of this ore. The discovery was announced on Wednesday, day 2, in a statement by the holding company.
"We believe that the Barroso Mine has the largest West European reserve of spodumena," reads the note.
The 14 million tonnes of ore with 1.1 percent lithium oxide, which is essential for making electric car batteries, for example, is more than twice the amount originally estimated by Savannah, which began looking for lithium reserves in Portugal in May last year.
"We believe that Barroso Mine has the potential to be a key player in the emerging lithium value chain in Europe, and that it may help in the process of transitioning European automotive manufacturers to the production of electric vehicles," said David Arceher, Ceo of Savannah, in a statement.
The rise in the price of lithium compounds in recent years has sparked a race for mines in Portugal. The Government received at least 40 applications for operating licenses. In the nine regions of the country that concentrate the ore, there are at least 60,000 metric tons, which put the country in the top 10 of the world's lithium reserves. The ore has been exploited in Portugal for decades, but its use has been almost exclusively in the ceramics industry. A scenario that may change soon.
He added that the focus of the company in the coming months will be to study the economic viability of lithium mining at Barroso Mine. This will change the terms of the current contract, which provides for the exploration of seven million tons of lithium, quartz and feldspar in seven distinct regions. In addition to increasing the amount of ore to be mined, Savannah wants to guarantee the right to "build a factory to process lithium compounds."
The company refers to the beginning of next year a final decision on the development of the mine. Prospecting rights of the British in the region extend until 2036, being extended for another 20 years.
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