Namibian lithium developer and emerging lithium concentrate producer Desert Lion Energy has ceased all operations in Namibia in light of the continued decline in lithium carbonate pricing.
The Board is currently re-assessing the previously announced 3-stage execution plan and is evaluating all available options to find a sustainable path to the continued development of its Namibian lithium project.
Desert Lion has also commenced negotiations with its offtake partner, Jiangxi Jinhui Lithium to amend the pricing metrics under its offtake agreement in light of the current lithium carbonate pricing environment.
As previously disclosed, Desert Lion intends to announce its Maiden Resource Estimate and Preliminary Economic Assessment prior to the end of Q3 2018.
Desert Lion is focused on building Namibia's first large-scale lithium mine to be located approximately 210 km from the nation's capital of Windhoek and 220 km from the Port of Walvis Bay.
The company's Rubicon and Helikon mines are located within a 301 km2 prospective land package, with known lithium bearing pegmatitic mineralisation and Desert Lion is currently in Phase 1 of its production plan, producing and exporting lithium concentrate from stockpiled material.
The project site is accessible year-round by road and has access to power, water, rail, port, airport and communication infrastructure.