Lithium

From Exploration to End-user

9-10 April 2018 The Geological Society of London, Burlington House

ABSTRACT BOOK

Convenors: Event Partners:

Sarah Gordon (Satarla / The Geological Society)
Daniel Smith (The University of Leicester / MDSG)
Julian Aldridge (Wood plc / IOM3)
Jeremy Wrathall (Cornish Lithium)
Ali Dai (Chengdu Chemphys Chemical Industry)
 Lithium – From Exploration to End-User

CONTENTS

Conference programme Pages 2-3

Abstracts Pages 4-36

(in programme order)

Geological Society Fire Page 37

Safety Information

Ground Floor plan of Page 38

The Geological Society

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CONFERENCE PROGRAMME

Monday 9 April 2018

09.00 Registration & tea, coffee

09.30 Welcome Address
09.40 KEYNOTE: Demand – How, why and where do we use Lithium?
Alison Dai, Chengdu Chemphys
10.20 KEYNOTE : Supply – How do we find, mine, process it?
Jeremy Wrathall, Cornish Lithium
11.00 Tea & coffee break
11.30 Lithium Brine Projects Development: Challenges and Lessons Learned
Pablo Cortegoso, SRK Consulting
11.55 FAME: Helping to Valorise European Lithium Resources
Chris Broadbent, Wardell Armstrong
12.20 Bottlenecks in the lithium supply chain, avoidable or inevitable?
David Merriman, Roskill Information Services
12.45 Lunch
13.45 BREAKOUT SESSION: What are the gaps / assumptions in our Lithium value chain?
How will this affect the future of Lithium
14.55 Feedback from breakouts
15.30 Tea & coffee break
15.50 A lithium inventory for silicic magmas
Ben Ellis, ETH Zurich
16.15 Lithium resources in lacustrine sediments
Lisa Stillings, U.S. Geological Survey
16.40 Exploration for and Evaluation of pegmatitic Lithium Deposit in Ontario, Canada
Stephen Peters, DMT Group
17.05 Hard Rock Lithium Sources: Particular Considerations for their Exploration and
Mineral Resource Estimation
Laura Donegan, SRK Consulting
17.30 Drinks Reception
Tuesday 10 April 2018
09.00 Tea, coffee
09.30 Welcome Address
09.40 Lithium in Mexico
Peter Seker, Bacanora
10.20 International Lithium Corporation
John Wisbey, International Lithium Corporation
11.00 Tea & coffee break
11.30 Lithium in Argentina
José Gustavo de Castro Ale, NRG

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11.55 A review of lithium occurrences in Africa

Paul Nex, University of the Witwatersrand
12.20 The challenges of Li determination in minerals: A comparison of stoichiometrically
determined Li by EPMA with direct measurement by LA-ICP-MS and handheld LIBS
Robin Armstrong, Natural History Museum
12.45 Lunch
13.45 Lithium Market Analysis
Toby Green, CRU Group
14.10 Assessing new and emerging develop projects from an investment perspective
Brock Salier, Sprott
14.35 Cobalt: perspectives on the currently essential ingredient for high-performance Li-
ion batteries
Richard Herrington, Natural History Museum
15.00 BREAKOUT SESSION: What are the gaps / assumptions in our Lithium value chain?
How will this affect the future of Lithium
15.45 Tea & coffee break
16.15 Feedback from breakouts
16.50 Panel Session
17.15 Conference Closes

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ABSTRACTS
(in programme order)

Lithium markets: demand & supply

Alison Dai

Chengdu Chemphys Chemical Industry Co Ltd

[email protected]

Chemphys has been involved in the lithium industry for 20 years and has witnessed significant
changes to the lithium market over this time. With this experience, we try to better understand
the current market demand and supply dynamics. There has been intense speculation
following the release of Morgan Stanely’s latest lithium market forecast which predicts lithium
prices could fall by 45% by 2021. Every commodity goes through cycles where growing
demand triggers a supply response which is often excessive for a period of time. Prices then
fall, investment in new projects stall and the cycle repeats. It’s difficult to see why lithium will
be different from other commodities that have experienced a similar cycle. However, the
industry is increasingly divided as to whether the supply surplus will be quickly absorbed by
increasing demand or will flood the market and drive down prices over a longer period of time.

The presentation will provide a brief overview of Chemphys’ position in the lithium supply
chain, followed by Chemphys’ perspective of key factors impacting lithium demand and supply.

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NOTES

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Lithium Supply – How do we find, mine, process it?

Jeremy Wrathall

Cornish Lithium

Lithium is rapidly becoming a metal of crucial importance to our modern world given the
imperative to move to a low carbon economy. There is currently no commercial alternative to
the lithium-ion battery which is taking centre stage in the revolutionary move towards electric
cars and power storage batteries. Whilst lithium is technically an abundant element it is difficult
to extract on an economically viable basis and this is expected to generate an ever-widening
search for new sources and new processing techniques.

In this presentation the current sources of lithium will be reviewed as will existing methods of
extraction. This will be followed by a review of exploration for new sources and a review of the
rapid advances that are being made in lithium extraction methods. The presentation will also
review Cornish Lithium’s own efforts to establish a commercial lithium extraction industry
based on lithium brines that were first identified in the County in 1864.

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NOTES

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Lithium Brine Projects Development: Challenges and Lessons Learned

Pablo Cortegoso & Julien Declercq, Rob Bowell, Camilo de los Hoyos, Terry Braun

SRK Consulting
[email protected]

Brine extraction for surface process and recovery of potash, lithium, boron and industrial salt
requires the application of traditional hydrogeological-hydrogeochemical theories to hyper-
saline solutions. Such brines present additional technical challenges in comparison to fresh
water due to density effects, salinity, density driven multichemical composition flow on a large
scale, and interaction between brines and fresh water over the course of the production period.
Surface production facilities require estimation of brine composition over time. Therefore, the
specialists (hydrogeologist, geologists, geochemists, etc.) are tasked to incorporate this
features in all the project steps, including exploration and sampling plans, balancing extraction
rates from multiple production wells, locating the production wells in space (and time),
predicting chemical composition of the pre-pumping and extracted brines and monitoring
depletion of a “dynamic” resource. Predictions requires both accurate site information and an
in-depth understanding of the limitations of the tools used. Each of these parameters can have
a significant impact on project economics. The parameters such as effective porosity,
permeability, anisotropy, aquifer configuration (extent, thickness and heterogeneity), and
wellfield efficiency are key in the estimation of resources and reserves for a brine extraction
project. During the stages of prefeasibility and feasibility, an accurately built numerical
groundwater model is required in order to develop a production plan and accurately predicting
the brine composition is key to a sustainable operation.

This presentation examines the technical aspects of conducting a proper evaluation from
exploration to exploitation that will feed the precise parameters to the numerical groundwater
model and therefore define a production plan and estimate extractable brine resources and
reserves.

This presentation will also discuss the challenges and lessons learned from lithium brine
projects in development around the world, from early exploration to production.

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NOTES

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FAME: Helping to valorise European lithium resoureces

CP Broadbent1 M Machado-Leite2 JC Andersen3 and M Martin4

1
Wardell Armstrong International
[email protected]
2
Laboratório Nacional de Energia e Geologia
3
Camborne School of Mines, University of Exeter
4
GEOS

The demand for lithium is currently ca. 180,000tpa lithium carbonate equivalent (LCE) and this
is anticipated to grow significantly such that by 2030 the forecast is currently at >2 million
tonnes LCE per year. This increase is driven by the electrification of transport and, in
particular, growth in electric cars.

Lithium is not a particularly rare element in the Earth’s crust and is the 33rd most abundant
element. Putting this in context, it is slightly less abundant than cobalt but slightly more
abundant than lead. However, significant expansion in production of lithium (and other metals)
will be required to satisfy the anticipated increase in the electrification of vehicles. Much of
the lithium will be used in lithium-ion battery manufacturer, especially for the car industry. Most
major European manufacturers have published ambitious targets for the replacement of
conventional (diesel/petrol) cars by electric vehicles in the short to mid-term. As this is
significant to European economies, strategic European lithium deposits will become ever
increasingly important.

Lithium is produced from two distinct sources, brines with production concentrated in Chile
and from hard rock minerals with current production centred on Australia. Europe currently
supplies around 1% of global lithium (mostly from Portugal) although there are a number of
deposits rich in lithium and exploration for lithium brines is active in Cornwall, UK. There is
potential in Europe to increase significantly the proportion of world lithium supply produced
from European resources.

FAME is an R&I Mineral Processing Project funded by the EU as part of H2020; FAME
(Flexible and Mobile Economic Processing) investigates innovative mineral processing
solutions relevant to the processing of skarn, greisen and pegmatite ores in Europe. Testwork
has been carried out on
6 Reference ores (two of each ore type) and 3 of the References Ores contain significant
quantities of lithium bearing minerals (either lithium micas or spodumene). Novel concepts
are being tested in FAME to enhance conventional mineral processing technologies to
produce concentrates of lithium minerals as well as more innovative bio-leaching studies to
examine the potential for bio-leaching of Li-ores. Further test work is underway to examine
optimum chemical processing routes to produce higher Lithium grade intermediary products
that could be used by battery manufactures.

Keliber, a FAME Partner, is planning to mine spodumene bearing pegmatite ore bodies in
Finland with production starting in late 2019 current mine plans indicate that after ramp up this
mine has the potential to produce 10% of current world production. Portuguese FAME Partner
LNEG has worked closely with mineral producer Felmica to identify the potential to produce
commercially viable lithium mica concentrates by froth flotation from the Gonçalo pegmatite,
Portugal.

This presentation examines potential European lithium resources from hard rock minerals,
outlining the important mineral processing factors, key to producing viable lithium mineral

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concentrates and the sub-sequent chemical processing options to enable upgrading of the
lithium from 6-8% in a mineral concentrate to ≥ 35% in Lithium Carbonate.

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NOTES

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Bottlenecks in the lithium supply chain, avoidable or inevitable?

David Merriman

Roskill Information Services

[email protected]

The lithium industry has expanded significantly over recent years and looks set to continue on
this trend as demand from industrial and lithium-ion battery applications are forecast to exhibit
strong growth over the next decade. Even when applying conservative forecasts of demand
growth, the supply of raw materials consumed in lithium-ion batteries are expected to be
places under significant strain, with lithium being amongst the raw material affected. The
supply chain of lithium raw materials to battery component manufactures is complex, with
multiple stages of processing and purification, providing multiple opportunities for bottlenecks
to form. What methods could the lithium industry introduce to mitigate the formation of
bottlenecks throughout the supply chain, or does growth provide too large a technical and
financial challenge for the industry to expand in line with lithium demand.

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NOTES

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A lithium inventory for silicic magmas

Ben Ellis1, Julia Neukampf1, Olivier Bachmann1 & Tomas Magna2

1
Institut fur Geochemie und Petrologie
[email protected]
2
Czech Geological Survey, Prague, Czech Republic,

With the increased global demand for lithium comes the requirement to understand the
geological reservoirs in which lithium is found. From a magmatic perspective, lithium is a
moderately incompatible element in almost all rock suites, meaning that it remains primarily in
the melt rather than being incorporated into growing crystal phases. As magmas evolve
predominantly via crystal fractionation, the abundance of lithium in the melt progressively
increases such that the most evolved magmas on Earth typically have the highest lithium
contents. This behaviour is confirmed by the relationship between silicic magmas and
economic lithium deposits. Despite this link, little is known in detail about where lithium resides
in evolved magmatic systems. In an attempt to remedy this, we have studied numerous
rhyolitic deposits from the Yellowstone hotspot track to try and constrain the pre- and post-
eruptive processes affecting the lithium inventory.

Prior to eruption, rapid crystal growth traps small parcels of melt within the crystal, allowing
the lithium content of the melt at the time of crystallisation to be determined. In the Mesa Falls
Tuff (the 1.3 Ma ‘super-eruption’ from Yellowstone) that we focus on here, the melt inclusions
contain up to an order of magnitude more lithium than the groundmass glass (36-55 ppm)
indicating that lithium is volatile and leaves the magma during pre / syn-eruptive degassing.

However, unlike most elements, the rapid diffusivity of lithium means that it may remain mobile
into the post-eruptive realm. The result of this is that the cooling history of a volcanic deposit
has a profound effect on where lithium is hosted. In quickly cooled, glassy deposits the lithium
predominantly resides in the glass (typical values for the Yellowstone rhyolites are 40-60 ppm
in glass). By contrast, where the deposits have undergone slow cooling following the eruption
and exhibit microcrystalline groundmass textures, most of the lithium is hosted within
phenocryst phases. We interpret this as reflecting the continued incompatibility of lithium in
the groundmass mineralogy of rhyolites (sanidine, plagioclase, and quartz) causing the last
remaining liquids to be enriched in lithium (up to 250 ppm). The post-eruptive cooling history
therefore controls the physical properties of the material hosting the majority of the lithium and
thus the ease with which it can be mobilised from the volcanic deposit.

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NOTES

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Lithium resources in lacustrine sediments

Stillings, Lisa L.1, Morissette, Claude2

1
U.S. Geological Survey
[email protected]
2
Terrapex Environnement Ltée

[1] Asher-Bolinder, Sigrid. 1982. Lithium-rich Clays. In: Erickson, Ralph L., ed. Characteristics
of Mineral Deposit Occurrences, U.S. Geological Survey Open File Report 82-795, pp. 225-
228, https://pubs.er.usgs.gov/publication/ofr82795

There is renewed interest in lacustrine deposits that host lithium bearing sediments. In the
southwestern United States (US), there are several deposits of lithium-bearing clay found in
Miocene- to Pliocene-aged sediments from saline lakes formed in evaporative, closed basins.
Lithium-bearing clays are also found in sediments from a Miocene-aged caldera lake. Other
international examples of lithium deposits hosted in lacustine sediments include Bacanora, in
Sonora, Mexico, where lithium bearing clays are found in lacustrine sediments deposited in
half-grabens; Jadar, in Serbia, where jadarite, a new lithium-borate mineral, was discovered
in an intramontane lacustrine sedimentary basin; and Macusani Plateau, Peru, where lithium
has been discovered in water-lain, felsic, ash fall tuffs.

We have conducted geochemical and mineralogical analysis of samples from closed-basin,

saline lakes in the US from Lyles, Arizona; Franklin Mills, and Hector, California; Fish Lake
Valley, and Clayton Valley, Nevada; and from the caldera lake at McDermitt, Nevada.
Geochemical analyses were conducted by X-Ray Fluorescence (XRF) for major elements,
and a combination of Inductively Coupled Plasma Spectroscopy Atomic Emission/Mass
Spectrometry (ICP-AES/MS) for lithium and trace elements. Mineralogical analysis consisted
of powder X-Ray Diffraction (XRD) using random-packed and oriented (air-dried and
glycolated) samples.

All samples are dominated by magnesium- and fluoride-rich clays. Most are smectite
(hectorite), although illite was identified at McDermitt, and mixed-layer smectite-illites were
identified in the Esmeralda Formation of Clayton Valley, Nevada. Lithium content ranges from
0.05 – 0.71 % in bulk sediments, and 0.12 – 1.24% in clay separates.

Data are analyzed for a link between lithium concentration, clay mineralogy, and the
environment of deposition. A conceptual deposit model for lithium-rich clays [1] suggests the
environments of deposition commonly include the following characteristics: a) closed-basin
deposition of ash-derived smectites, b) hydrothermal activity in the basin or on its margins, c)
evaporative concentration of lithium-enriched fluids within the basin, and d) co-occurrence of
accessory elements such as uranium, beryllium, boron, and fluorine.

The suitability of clay as a lithium resource is dependent upon both the concentration of lithium
and the position of lithium in the crystal structure of the clay, which dictates the cost of lithium
recovery. In the smectite and illite clays of our sample suite, lithium is found in the octahedral
structural layer, whereas in the mixed-layer smectite-illite clays, lithium is found as an
exchangeable cation in the interlayer. We argue that the mixed-layer smectite-illite clay may
be more suitable as a lithium resource because lithium may be more easily extracted from the
interlayer than from the octahedral structural layer.

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NOTES

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Exploration for and Evaluation of pegmatitic Lithium Deposit in Ontario, Canada

Stephan Peters, Florian Lowicki & Dr. Bernd Teigler

DMT Group
[email protected]

Ontario’s spodumene-bearing pegmatites are known since 1952 [1]. Since then the pegmatite
bodies have been explored in three campaigns. During the years 1955 until 1957 the first drill
holes were drilled and a shaft was sunk. During the years 2008 until 2011 a second exploration
campaign tested mineralization with more drilling. The last exploration campaign started in
2017 and it will lead to a new resource evaluation. The resource update will incorporate
additional drill holes, channel samples and assay data. A new 3D model is under construction
and first mining options are under investigation. In addition, to the resource definition work, a
bulk sample has been taken and first processing investigations have been completed.

The strike length of individual pegmatites at surface ranges from 50 to 1800 m. The thickness
varies from 1 to 10 m. The majority of the pegmatites is hosted by meta-sediments and/or
biotite granite. Spodumene is the dominant Li-bearing mineral in all pegmatites. The pegmatite
dykes show internal zonation with the development of a granitic or aplitic marginal zone and
a spodumene, albite and quartz central zone.

Mineralisation comprises coarse-grained, fresh and pale green spodumene crystals oriented
perpendicular to the strike of the pegmatite dyke. In the field, spodumene minerals are often
in the size of a finger. In some areas, the length of these crystals is up to 1 m with a
corresponding diameter of up to 12 cm.

Up to date investigations focused in the northern areas of the licences, where several
spodumene-bearing pegmatites occur at the surface relatively close to each other. In total five
5 pegmatite bodies have been modelled in 3D. Currently, the deepest intersection is 300 m
below surface. Drill spacing is less than 50 m. More than 200 drill holes have been completed.
Lithium oxide contents of samples vary, but may reach up to 2.7 % (Li 2 O). The new NI 43 101
resource statement is in preparation [2].

Next steps will include a pit optimisation study together with more detailed geotechnical
investigations. In addition, the environmental and water situation is also under investigation.
The project will be shown in the actual situation and the newest exploration results will be
displayed.

[1] Pye, E.G. (1965): Georgia Lake Area, Ontario Department of Mines, Geological Report No. 31.
[2]S. Peters, T. Gorka, R. Schlüter, E.B. Teigler (2010): The Evaluation of Ore Deposits in View of the Requirements of Western
Stock Markets. – Aachen International Mining Symposia, Third International Symposia “Mineral Resources and Mine
Development”, 26.-27.05.2010, Aachen

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NOTES

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Hard Rock Lithium Sources: Particular Considerations for their Exploration and Mineral
Resource Estimation

Laura Donegan, Ben Lepley, Martin Pittuck, Robert Bowell

SRK Consulting (UK) Ltd

Hard rock sources of lithium include pegmatites, volcanic tuffs and lacustrine deposits
containing volcanoclastic clays and/or evaporites. About half the world’s lithium supply
currently comes from pegmatites and the other half from brines; a handful of lacustrine
deposits are currently undergoing feasibility studies.

Pegmatites either occur in swarms around a source intrusion or may be isolated if evolved
from a partial melt. Lithium-rich rare metal pegmatite melts migrate several kilometres along
pathways and into trap sites, both of which may be difficult to predict or trace.

Geophysical exploration is challenging due to low contrast between the pegmatites and
country rock by most methods, however aerial image interpretation, good mapping and wide
area trace element litho-geochemistry may be considered as useful exploration tools. An
effective exploration strategy should seek to determine predictable trends in mineralogy and
bulk chemistry across the pegmatite swarm.

Pegmatites may be lensoid sills, anastomosing dykes or may mould into trap sites such as
refractive openings in shear zones and folded strata; They may have complex or ordered
internal zoning of mineral content and texture; geological modelling of such zones is key to
establishing resource estimation domains. Pegmatites often contain large crystals which can
make it difficult to ensure drill core or channel samples are representative. Lacustrine deposits,
on the other hand, often comprise laterally extensive basin fill with relatively constant lithium
grades.

It is important to record proportions of mineral species in each sample to understand which

minerals may contribute to a saleable product. The more common pegmatite ore minerals are
spodumene, lepidolite and petalite which can be separated and concentrated on site.
Concentrates can be roasted and/or chemically leached to release a pure lithium salt or used
directly by specialised ceramics manufacturers. However, there are more than 150 known
minerals that can host lithium as a major component, not all of which can be considered as
having ore potential.

Drilling can be hampered by alternating soft and hard rock inside pegmatites. It is also
important to choose suitable assaying methods for the accurate determination of lithium grade;
some trace element methods add lithium borate and therefore do not report lithium; direct
analysis by XRF is not possible due to the low atomic number of the element. In lacustrine
sediments, presence of organic matter can complicate ICP analysis.

Some lithium bearing lacustrine volcanoclastic deposits in which lithium occurs within clay
minerals such as hectorite or jaderite are under evaluation. A challenge with these is the
relatively low concentration of lithium in the clay minerals resulting in relatively large volume
low grade deposits.

Resource classification requires statistically defendable domains to be modelled with

demonstrable continuity and with defendable geometry. Good confidence may require
relatively dense drilling coverage in pegmatites to deal with multiple internal zones, irregular
contact geometry, large crystal effects and rapid changes in thickness. Conversely, lacustrine
deposits can have relatively predictable geometry and grade requiring less onerous drilling.

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NOTES

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Lithium in Mexico

Peter Secker

Bacanora

Bacanora Lithium is an AIM listed company focused on developing the world’s next major
lithium project in Mexico. The Company is rapidly commercialising the world class Sonora
Lithium Project in Mexico which benefits from a large, scalable and high grade lithium resource
with an NI 43-101 Measured plus Indicated Resource of over 5mt LCE. A Feasibility Study
(‘FS’) has been completed, and results confirm the positive economics and favourable
operating costs of a 35,000 tonnes per annum ('tpa') battery grade Li2CO3 operation. The FS
estimates a pre-tax project Net Present Value ('NPV') of US$1.253 billion at an 8% discount
rate; an Internal Rate of Return ('IRR') of 26.1%, and Life of Mine ('LOM') operating costs of
US$3,910/t of lithium carbonate ('Li2CO3').

Over CAD$20 million has been invested to date on exploration, studies and development of a
lithium pilot plant near Hermosillo, which has produced high quality battery grade (>99.5%)
lithium carbonate during ongoing testwork conducted over a 24 month period. This is a key
differentiator and positions the Company favourably in comparison to its peers.

Bacanora boasts a highly experienced Board and management team, led by CEO Peter
Secker who has built and operated over 5 greenfields mining projects over the past 35 years.

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NOTES

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Lithium in Argentina

José Gustavo de Castro Ale

NRG Metals
[email protected]

Complete Business & Project approach strategy of a Junior Company at Lithium Triangle,
specifically Argentina based on the unique experience of designing, engineering starting up
and operating 2 projects of lithium products production.

Main reasons because production is delaying against forecasting and possibilities to change
and become a production facility in short term. Risks analyses of a Lithium Project in
Argentina, mainly focus in Technological challenges, communities affairs, political
relationship, suppliers/client influences and financial markets and shareholders.
Why NRG is the right business model for advancing in Lithium production.

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NOTES

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A review of lithium occurrences in Africa

Nex, P.A.M.1, Goodenough, K.M.2, Shaw, R.A.3, Kinnaird, J.A.K.1

1
School of Geosciences, University of the Witwatersrand, Johannesburg, South Africa
([email protected])
2
British Geological Survey, the Lyell Centre, Research Avenue South, Edinburgh, EH14 AAP
3
British Geological Survey, Environmental Science Centre, Keyworth, Nottingham, NG12 5GG

Lithium deposits worldwide are typically divided into two types; those derived from continental
brines and those sourced from granitic rocks particularly pegmatites. In Africa there are no
known resources, nor significant occurrences of continental brines containing economic
quantities of lithium, which could be extracted using evaporation such as practiced elsewhere.
Conversely there are many occurrences and several deposits of lithium minerals within
pegmatites that are, or have been mined and may provide resources for the future.

Pegmatite-hosted lithium is typically found in LCT (Lithium-Caesium-Tantalum) pegmatites

that are associated with the waning stages of continent-collision and orogenic collapse. From
pegmatites, lithium is typically extracted from spodumene (LiAlSi 2 O 6 ), and petalite
(LiAlSi 4 O 10 ), although lithium-bearing micas such as lepidolite and zinnwaldite may also be
an important source.

In Africa, LCT-type pegmatites are most commonly associated with the construction of the
Proterozoic super-continent Rodinia and Palaeozoic Gondwana, although some significant
pegmatites of Archaean age are known.

In Zimbabwe, the Archaean Bikita pegmatite has been Africa’s largest lithium mine from a
single pegmatite. It has been mined for lithium since the 1950s and has also produced beryl,
tantalite and caesium from pollucite. There are several active exploration projects in Zimbabwe
evaluating other Li-bearing pegmatites including those near Harare, Fort Rixon, Benson and
Kamativi. Other Archaean Li-bearing pegmatites include albite-spodumene pegmatites in the
northern part of the Barberton Greenstone Belt and a minor occurrence in the Vredefort impact
structure. LCT pegmatites of Archaean age, some enriched in Li, are known from greenstone
belts in the West African craton, but are little-studied.

Proterozoic LCT pegmatites are known from Central Africa in the DRC and also from the
Namaqua-Natal metamorphic belt in South Africa. The Manomo-Kitolo pegmatite swarm in
the DRC contains spodumene, cassiterite and columbite-tantalite-bearing pegmatites that can
be traced over a strike length of more than 15 km.

Pegmatites associated with orogenic belts formed during the end-stages of the amalgamation
of Gondwana, during the Pan-African (c.650-500 Ma), occur in many African countries. In
particular the Rubicon and Helikon pegmatites in Namibia are past producers of lithium from
petalite and in the Alto Ligonha area of Mozambique lithium minerals have also been mined
from the Morrua and Marropino pegmatites.

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NOTES

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The challenges of Li determination in minerals: A comparison of stoichiometrically

determined Li by EPMA with direct measurement by LA-ICP-MS and handheld LIBS

Robin Armstrong1, John Spratt1, Yannick Buret1, Andrew Somers2 and the FAME WP2 team
1
The Natural History Museum
2
SciAps, Inc

The reconciliation of the mineralogical residence of Li with whole rock assays is important both
in the estimation of resource and the design of mineral processing flow sheets for ‘Hard rock’
lithium deposits. The accurate determination of Li in minerals is challenging because of its low
atomic mass meaning that it cannot be directly measured by standard electron beam
techniques. Previous works have developed routines for the reduction of EPMA data to give
stoichiometric estimates of Li content in several key Li-bearing phases such as spodumene
and the Li-micas. These methods encounter a number of problems due the presence of other
elements which cannot be determined directly by EPMA (O, H, B, and Be). Despite these
limitations it is possible demonstrate the heterogeneous distribution of Li in key lithium-bearing
phase such as the Li-micas.

Here we will present new data from a range of Li-bearing mineral phases from the Natural
History Museums mineral collection, collected using EPMA, LA-ICP-MS and the Sci Apps
handheld Laser Induced Breakdown Spectroscopy. This work compares and contrasts the
results and may present a cost effective method for the direct determination of Li contents in
minerals for the more accurate determination of Li residence in potential Li ores.

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NOTES

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Lithium market analysis

Toby Green

CRU Group
[email protected]

CRU is a global analysis firm focused on mining, metals and fertilisers, and was one of the
first commodity research firms to develop a robust and customizable model for forecasting
electric vehicle (EV) demand, and its associated impacts on global commodities. At the
Geological Society conference, we examine two of the key pillars of Lithium market analysis
– Supply and Demand.

On the supply side, we shall explain how CRU estimates the quantity of metal that is likely to
come to market in the coming years, and which nations are expected to be the global winners
and losers in this race – what are tantalite tailings reprocessing plants, will China develop its
resources and what should we make of Chilean mining policy? We will also unpack some of
the bottlenecks in the supply chain – spodumene, Lithium Carbonate and Lithium Hydroxide
processing facilities – and the impacts these have on the ultimate availability of battery-grade
materials, as well as where the stockpiles will likely build up.

Our core focus in this presentation will be on demand. Firstly, we shall show how overall 2018
Lithium demand of 300ktpa rises to over 700ktpa by 2025, before focusing in on the key
demand driver of EV batteries. The importance of this sector for Lithium is profound, and
accurate forecasts can make or break a potential project in the pipeline. We demonstrate the
complexity of modelling this sector and explore how this transformation will develop with
respect to technological decision-making from battery-manufacturers, consumer patterns of
behaviour, total vehicular costs of operating, threats from alternatives and various
governmental policies around the globe. We will also touch on some scenarios of possible
trajectories in this ever-developing market and provide our base case view for the next ten
years.

We look forward to having you with us and welcome any questions you may have on the future
of Lithium and electric vehicles.

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NOTES

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Assessing new and emerging develop projects from an investment perspective

Brock Salier

Sprott
[email protected]

Sprott is active in the lithium space as investment banker, lender and principal investor. Our
focus is on finding and supporting new discoveries and emerging development projects
globally, and we are active across hard rock and brine as well as alternative lithium sources.
Our presentation focusses on the key subtleties required for a successful development project,
as well as a commercial comparison of brine to hard rock assets, and is based on detailed
financial and technical reviews, both desktop and site based, of projects globally.

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Cobalt: perspectives on the currently essential ingredient for high-performance Li-ion

batteries

Richard Herrington1 & The CoG3 Research team2

1
The Natural History Museum
2
http://www.nhm.ac.uk/our-science/our-work/sustainability/cog3-cobalt-project.html

The background to this talk is that battery industry currently uses 42 percent of global cobalt
production, a critical metal for Lithium-ion cells. Although cobalt is not the only metal that can
be used in Li-ion cells, NMC, NCA and LCO batteries provide the highest energy density and
they all require cobalt. LCO is the battery of choice for Tesla, committed to production of
500,000 vehicles a year using Li-Co battery technology.

More than 95 percent of the world’s primary cobalt comes as a by-product of nickel or copper
mining with up to 60% of that production located in the DRC, some of which is linked to
unethical mining practices. The recent price hike for cobalt suggests that we are already
witnessing an increased scarcity of cobalt supply. An added problem may be that the price of
copper and nickel has been dropping to current six-year lows, making some of the mines
traditionally supplying by-product cobalt uneconomic.

In the short term at least, with a growing cobalt market, new resources are needed to secure
the supply. There is no absolute shortage of cobalt resources to be found in the ground, in a
range of environments away from Central Africa, some of these under our noses in Europe.

Our currently active research project, CoG3 is funded through the NERC SoS Minerals
programme and is focused on the geology, geomicrobiology and geometallurgy of cobalt
deposits with the aim of increasing recovery of cobalt from the diversity of natural deposits
http://www.nhm.ac.uk/our-science/our-work/sustainability/cog3-cobalt-project.html. This talk
will focus on the results emerging from this research where we have found that in some cases,
simple changes to processing methods could extract more cobalt currently lost at existing or
dormant operations. For other scenarios with more complex ores, implementation of
innovative technology is the game-changer that will be needed to diversity the supply of mined
cobalt for the battery industry.

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Geological Society
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Ground Floor Plan of The Geological Society

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