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Lepidico - September 2020 Quarterly Activities and Cashflow Report


Key Points

Development

• Environmental and Social Impact Assessment (ESIA) completed for the Namibian Phase 1 Project operations, which identifies it as a Category B Project with significant socio-economic benefits, along with advantages from the environmental reclamation of the existing mine sites
• Environmental Compliance Certificate (ECC) awarded for statutory three year period based on the Phase 1 Project mine plan, an endorsement of the Environmental & Social Management Plan (ESMP) for the fully permitted Karibib developments, operations and closure
• Lepidico Chemicals Manufacturing Ltd established in Abu Dhabi and a pre-operations Industrial License awarded for the planned Phase 1 Chemical Plant development
• Environmental consultant, GHD, appointed for the Phase 1 Chemical Plant permitting with site works completed in September
• Chemical plant ESIA scheduled for completion December 2020 to Equator Principles and IFC environmental and social standards
• Engineering, Procurement and Construction Management (EPCM) tender process started for both the Karibib concentrator and Abu Dhabi chemical plant, with contractor screening completed and proposals sought from qualified contractors
• Offer for supply of 4.5MVa power at 66kV to the Karibib Project received
• Considerable capital cost savings, lithium recovery improvements and lower CO2 emissions identified when LOH-Max® is used for spodumene conversion versus conventional processing

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