Power Minerals Terminates Rincon JV to Pursue New Opportunities in Argentina
Power Minerals has terminated its joint venture with Navigate Energy Technology for the Rincon lithium project in Argentina, allowing the company to retain full ownership as it seeks new opportunities amid a strengthening lithium market. The firm plans to conduct an engineering study for evaporation ponds to boost production and is in discussions for funding a lithium brine pilot plant, while also preparing to repay Navigate Energy US$1 million. Rincon hosts a JORC resource of 292,564 tonnes of lithium carbonate equivalent, with a preliminary economic assessment projecting annual revenues of US$194.8 million over 14 years.
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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.
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