Standard Lithium Updates On Phase 1A Project At LANXESS; Engages Citi For Strategic Financing

(RTTNews) - Standard Lithium Ltd. (SLI), a near-commercial lithium development firm, on Monday issued an update on the commercial progress of its Phase 1A Project at LANXESS Corp.'s South Plant near El Dorado, Arkansas.

The company said it has engaged Citi to facilitate strategic financing and partnership options for the Phase 1A Project, as well as for advancing the broader South West Arkansas project and the company's initiatives in East Texas.

Further, LANXESS has communicated its plans to commercialize its role in the Phase 1A Project alongside Standard Lithium, in line with its strategic focus on core operations.

The cooperative framework is to include a brine supply and disposal agreement, a lease agreement for the production facility site, and the provisioning of certain infrastructure services.

The company noted that details of the future cooperation are the subject of ongoing negotiations. These agreements will form the basis of the operational framework for the Phase 1A Project.