South Africa: two financing offers for the Springbok lithium project
Lithium Africa is discussing two proposals to develop Springbok, a South African lithium project, including a $60 million financing offer.
Lithium Africa is discussing two proposals to develop Springbok, a South African lithium project, including a $60 million financing offer.
Lithium Africa has received two non-binding proposals to finance development of Springbok, its lithium project in South Africa’s Northern Cape. One combines prepayment with purchasing all spodumene concentrate produced during the first three years. The other envisages a $60 million investment by a lithium processing group backed by a Fortune Global 500 company, in exchange for 55% of Lithium Africa’s interest in the project.
Lithium Africa wants to build a dense media separation plant at Springbok and targets its first spodumene concentrate in 2027. The schedule still depends on drilling, approvals and financing.
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