Lithium Extraction Works is pleased to announce that it is set to acquire a closed copper mine located in Arauco in the Biobio Region in Central Chile.
Online PR News – 27-April-2021 – SANTIAGO/REGION METROPOLITANA – Lithium Extraction Works’ Geological Team have visited the Arauco site and after extensive groundwork carried out, it has determined that the area hosts significant concentrations of a number of critical minerals, contained both in the bedrock and with the remains from previous mining operation at the site.
Lithium Extraction Works’ Chief Geological Officer, Mr. Bruce McArthur commented on the impending acquisition saying “During these uncertain economic times, our business model has remained sustainable and we are in a position to seize any opportunities. After extensive analysis, we believe that the Arauco site has considerable potential for growth as demand for phosphate mineral products is increasing.”
“After 2 months of drilling and exploration, Lithium Extraction Works can confidently announce that the tailings indicate the presence of significant concentrations of rare earths, scandium and zirconium and our engineers will successfully be able to recover these rare earths and this provides significant potential for future revenue growth,” added Bruce McArthur, Chief Geological Officer of Lithium Extraction Works.
About Us - Lithium Extraction Works
Headquartered in Santiago, Lithium Extraction Works is a mining company with a specific focus on lithium. Working with large international partners in diverse areas, from transport and energy storage to energy, we look to drive mutual growth through sustainable supplies and environmentally responsible operations.
With constant innovation in mining technology, efficient practices on the ground and decades of knowledge, we have built an experienced, effective team of engineers, operators and scientists who are at the heart of our success.
The supplies of rare earth minerals and metals we deliver are vital to the growth of important industries and international companies, used for a myriad of purposes, utilized in the production of electronic cars, pharmaceuticals, general consumer electronics, water-treatment facilities and refineries, to name but a few.
With our expansion derived from our ability and capacity to deliver steady supplies of vital rare earth minerals and metals, along with the increasing demand for products which require them, we at Lithium Extraction Works foresee mutual growth and benefit for ourselves, our partners and investors.