Standard Lithium acquires land in SW Ark. to advance major project
EL DORADO, Ark. (KSLA) - An investment of more than a billion dollars may be coming to southwest Arkansas — and with it, nearly 100 new jobs.
Standard Lithium Ltd. has announced the purchase of 118 acres of land to be used in the advancement of its South West Arkansas Project.
“The land purchase demonstrates our commitment to advancing and de-risking the South West Arkansas Project. The land, which lies to the south west of the SWA Project’s brine lease footprint, is ideally located close to a paved highway, robust regional infrastructure, and a skilled workforce. This acquisition adds to our existing land options in the Project area and provides us with added design flexibility as we progress the Project to the Definitive Feasibility and FEED phase,” said Dr. Andy Robinson, president and COO of Standard Lithium.
The piece of land is located in Lafayette County near Highway 29. Some of the land was previously logged; the remainder of timber will be removed by the end of the year by the previous owner.
“It is very exciting to hear news like that for Lafayette County. This is going to be a good thing for our county and the citizens of our county,” Lafayette County judge Valarie Clark said.
Clark said it has been a long time since the county has received a big announcement like this. She said county leaders do not know specific plans of Standard Lithium but the county is ready to cooperate.
“It will help on our tax revenue hopefully people will want to come here move here it will have job opportunities it will definitely be a good thing for our county.”
A company spokesman told KSLA News 12 that the project is a $1.3 billion investment in Southwest Arkansas.
The next step is a definitive feasibility study with construction beginning in 2025, and the plant is expected to be up and running in 2027.
About the South West Arkansas Project
The South West Arkansas Project is located approximately 15 miles west of the City of Magnolia in southwestern Arkansas. The SWA Project’s Indicated and Inferred Mineral Resource of 1.4 Mt and 0.4 Mt lithium carbonate equivalent, respectively, has some of the highest reported lithium brine concentrations in North America, averaging above 400 mg/L. The recently announced results of a Preliminary Feasibility Study demonstrate robust economics (see press release dated 8 August 2023), assuming production of at least 30,000 tonnes per year of battery-quality lithium hydroxide beginning in 2027. Currently, the Project contemplates 91 full-time equivalent employees upon reaching commercial production.
The Company anticipates completing a FEED and Definitive Feasibility Study for the SWA Project in 2024 and beginning construction in 2025. The SWA Project is expected to reach commercial production in 2027, subject to continuing project definition, due diligence, project financing and receipt of future feasibility studies.
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