Jadar

United Lithium Announces Closing of $7 Million Private Placement and Appoints Lithium Industry Expert Iain Scarr to Board of Directors

Retrieved on: 
Monday, March 6, 2023

VANCOUVER, British Columbia, March 06, 2023 (GLOBE NEWSWIRE) -- United Lithium Corp. (CSE: ULTH; OTC: ULTHF; FWB: 0ULA)  (“ULTH” or the “Company”) has completed its previously announced non-brokered private placement (the “Offering”), and has issued 50,000,000 units (each, a “Unit”) of the Company at a price of $0.14 per Unit for gross proceeds of C$7,000,000. Each Unit is comprised of one common share (“Share”) and one Share purchase warrant entitling the holder to acquire one additional Share at a price of C$0.25 until March 6, 2025. The Company intends to use the net proceeds raised from the Offering for exploration of the Company’s properties and for general working capital.

Key Points: 
  • The Company intends to use the net proceeds raised from the Offering for exploration of the Company’s properties and for general working capital.
  • All securities issued in the Offering are subject to restrictions on resale until July 7, 2023, in accordance with applicable securities laws.
  • The Company also announces that Iain Scarr has joined the board of directors of the Company effective immediately.
  • Mr. Scarr is replacing Mark Ireton, who has resigned as a director the Company to focus on other ventures.

Rio Tinto releases third quarter production results

Retrieved on: 
Thursday, October 14, 2021

Our all injury frequency rate (AIFR) of 0.37 has seen an increase versus the third quarter of 2020 (0.35), but an improvement against the prior quarter (0.39).

Key Points: 
  • Our all injury frequency rate (AIFR) of 0.37 has seen an increase versus the third quarter of 2020 (0.35), but an improvement against the prior quarter (0.39).
  • Pilbara shipments in the third quarter were 83.4 million tonnes (100% basis), 9% higher than the prior quarter and 2% higher than the third quarter of 2020.
  • This also resulted in an increase of SP10 production in the third quarter that will continue into the fourth quarter.
  • Aluminium production of 0.8 million tonnes was 3% lower than the third quarter of 2020, due to strike action at the Kitimat smelter.

Rio Tinto commits funding for Jadar lithium project

Retrieved on: 
Tuesday, July 27, 2021

Rio Tinto has committed $2.4 billion to the Jadar lithium-borates project in Serbia, one of the worlds largest greenfield lithium projects.

Key Points: 
  • Rio Tinto has committed $2.4 billion to the Jadar lithium-borates project in Serbia, one of the worlds largest greenfield lithium projects.
  • Rio Tinto is committed to help develop local businesses so that they can support the operation over the coming decades.
  • Rio Tinto Chief Executive Jakob Stausholm said We have great confidence in the Jadar project and are ready to invest, subject to approvals.
  • Based on this annual production of lithium carbonate, Rio Tinto aims to produce 2.3 million tonnes of lithium carbonate over the expected 40-year life of mine.

Rio Tinto partners with InoBat to explore innovative lithium battery initiative

Retrieved on: 
Tuesday, May 25, 2021

Rio Tinto and InoBat, a European battery technology and manufacturing company, have signed a Memorandum of Understanding to work together to accelerate the establishment of a cradle to cradle battery manufacturing and recycling value chain in Serbia.

Key Points: 
  • Rio Tinto and InoBat, a European battery technology and manufacturing company, have signed a Memorandum of Understanding to work together to accelerate the establishment of a cradle to cradle battery manufacturing and recycling value chain in Serbia.
  • Rio Tintos Jadar project in Serbia, one of the largest greenfield lithium projects in development, has the potential to produce approximately 55 thousand tonnes of battery grade lithium carbonate in Europe, one of the worlds largest growing electric vehicles markets.
  • InoBats goal is to serve the Europen market with innovative energy solutions, including production and recycling of electric vehicle batteries.
  • It is a visionary initiative and one that is aligned with Rio Tintos commitment to partnerships that provide solutions to combat climate change.

Rio Tinto declares maiden Ore Reserve at Jadar

Retrieved on: 
Wednesday, December 9, 2020

Rio Tinto has today disclosed to the Australian Securities Exchange (ASX) a maiden Ore Reserve and updated Mineral Resource at the 100% owned Jadar lithium-borates project in western Serbia.

Key Points: 
  • Rio Tinto has today disclosed to the Australian Securities Exchange (ASX) a maiden Ore Reserve and updated Mineral Resource at the 100% owned Jadar lithium-borates project in western Serbia.
  • The Mineral Resource underlying the maiden Ore Reserve has been updated to incorporate additional drilling which resulted in an updated geological model.
  • The update precedes the release of the projects Elaborate of Resources and Reserves, reporting required under the Serbian Reporting Code YU53/79.
  • Pre-feasibility studies have shown that the Jadar project has the potential to produce both battery grade lithium carbonate and boric acid.

Rio Tinto progresses the Jadar lithium project to feasibility study stage

Retrieved on: 
Thursday, July 30, 2020

Rio Tinto has approved an additional investment of almost $200 million to progress the next stage of the development of the lithium-borate Jadar project in Serbia.

Key Points: 
  • Rio Tinto has approved an additional investment of almost $200 million to progress the next stage of the development of the lithium-borate Jadar project in Serbia.
  • Rio Tinto Energy & Minerals Chief Executive Bold Baatar said Rio Tintos lithium project pipeline is an important part of our vision to pursue opportunities which are part of the transition to a low-carbon future.
  • The Jadar deposit contains high-grade mineralisation of boron and lithium supporting a long-life operation in the first quartile of operating costs for both products.
  • The unique mineral, Jadarite was discovered by Rio Tinto geologists in 2004 near the city of Loznica in Western Serbia.