Century Lithium Announces Significant Cost Reductions in Optimization Study for Angel Island Lithium Project
VANCOUVER, BC, February 24, 2025 – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company”) is thrilled to share the results of its internal, non-independent review and optimization work on the estimated capital expenditures (CAPEX) for its Clayton Valley Lithium Project, now known as Angel Island, located in Nevada, USA. The comprehensive Optimization Study identified potential cost savings of up to 25% on the initial Phase 1 CAPEX of $1.581 billion, as outlined in the NI 43-101 Technical Report on the Feasibility Study, dated April 29, 2024.
Detailed Analysis and Optimization
The Optimization Study was carried out to identify opportunities for reducing costs without compromising the project’s overall quality or performance. The Company’s engineering team meticulously examined the Feasibility Study’s designs and processes to identify potential areas for improvement. The team focused on optimizing the mine plan, processing plant design, and infrastructure, among other aspects.
Significant Cost Savings
The Optimization Study revealed potential cost savings of up to 25% on the initial CAPEX. This reduction translates to a potential savings of approximately $395.25 million. These savings are expected to come from various areas, including:
- Mining: The team identified opportunities to optimize mining methods, resulting in potential savings of up to $100 million.
- Processing: The processing plant design was analyzed, leading to potential savings of up to $150 million through improved plant design and reduced capital requirements.
- Infrastructure: Infrastructure costs, including power transmission lines and water supply, were evaluated, revealing potential savings of up to $145 million.
Implications for the Industry and Consumers
The successful optimization of the Angel Island Lithium Project not only benefits Century Lithium but also the lithium industry as a whole and ultimately the consumers. The cost reduction achieved by Century Lithium demonstrates that it is possible to develop large-scale lithium projects more efficiently, contributing to a more cost-effective and sustainable lithium supply chain.
Global Impact
The reduction in costs for the Angel Island Lithium Project is a significant step forward for the lithium industry, which is experiencing growing demand due to the increasing adoption of electric vehicles and energy storage systems. The cost savings achieved by Century Lithium are expected to contribute to a more competitive market, making lithium products more accessible and affordable for consumers worldwide.
Conclusion
Century Lithium’s successful completion of the Optimization Study for the Angel Island Lithium Project represents a significant milestone for the Company and the lithium industry. The identification of potential cost savings of up to 25% on the initial CAPEX demonstrates Century Lithium’s commitment to developing the project in a cost-effective and sustainable manner. This achievement is expected to benefit not only Century Lithium but also the global lithium industry and consumers, contributing to a more competitive market and making lithium products more accessible and affordable.
Century Lithium remains committed to delivering high-quality, sustainable lithium products to meet the growing demand for electric vehicles and energy storage systems. The Company will continue to explore opportunities for optimization and cost savings as it moves forward with the development of the Angel Island Lithium Project.
