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Power Minerals has ended its joint venture with Navigate Energy Technology for the Rincon lithium project in Argentina to explore new opportunities due to a strengthening lithium market. The termination allows Power Minerals to maintain full ownership.

The company is discussing new partnerships to accelerate development and plans an engineering study for evaporation ponds to enhance production. Rincon hosts a JORC resource of 292,564 tonnes of lithium carbonate equivalent and has a preliminary economic assessment predicting annual revenues of US$194.8 million over 14 years. Discussions for funding a lithium brine pilot plant are underway, and PNN will repay US$1 million to Navigate Energy.