June 16, 2023
Diverse Resources saving/ Resources circulation
Invested in DLI, which promotes lithium business in Australia, to respond to increasing demand for lithium due to electrification and expanding demand for large storage batteries
Idemitsu Kosan Co.,Ltd. (Headquarters: Chiyoda-ku, Tokyo, President: Shunichi Kito, hereinafter referred to as the "Company") is a company that promotes the lithium business in Australia. Delta Lithium Limited (hereinafter referred to as "DLI"), Headquarters: Perth ) has invested *1. Combined with the initial investment of A$5 million made in January of this year, our total investment amount will be approximately A$53 million, and our shareholding ratio will be 15%. In order to respond to the increasing demand for lithium due to the electrification of mobility, including electric vehicles (EVs), and the expansion of demand for large-scale stationary storage batteries, we have accumulated knowledge of lithium mining and are investing in geopolitically stable Australia. We aim to contribute to stabilizing the production and supply of lithium ore.
Mt.Ida moving forward with the project
Mt.Ida moving forward with the project
Mt.Ida moving forward with the project
DLI is currently working on two lithium mining projects in Western Australia (project names: Mt. Ida Project and Yinnetharra Project). Recently, DLI has increased its capital to proceed with exploration and development studies, and our company has invested in DLI through this capital increase.
Lithium exploration activities are proceeding smoothly at both projects, and the Mt. Ida Project announced JORC Resources *2 with lithium ore reserves of 12.7 Mt and a grade of 1.2% in October last year. We are currently considering commercialization of lithium ore (spodumene) mining.
Our company and DLI are proceeding with discussions regarding collaboration, including mine operations, marketing, financing, activities to obtain government support policies, activities to acquire mining areas, purchasing, refining and refining technology, as well as downstream lithium compound smelting and refining business. We plan to discuss further expansion in the future.
Australia is rich in mineral Resources and has many rare metals such as lithium and vanadium. Leveraging the business foundation we have cultivated over the past 40 years through coal mine operations in Australia, we are moving forward with our entry into the rare metals business, which has an affinity with coal mine operations and is essential for realizing a low-carbon society. . This investment in DLI follows the investment in Critical Minerals Group, which is promoting a vanadium mining project, and Vecco *3, and is part of the company's move to advance into the rare metals business necessary for the transition from fossil fuels to renewable energy. It's part of it.
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Through Idemitsu Minerals Australia Pty Ltd (100% owned by Idemitsu Australia), which was established by our Australian subsidiary Idemitsu Australia Pty Ltd (Headquarters: Brisbane) to promote the critical minerals business. We have achieved a total investment of 15%, including approximately 2.3% of our existing investment.
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JORC (Joint Ore Reserves Committee Code/Ocean Regulations for Reporting Mineral Resources and Ore Reserves) is the standard Resources level for Resources-related companies listed on the Australian stock market ASX to report on exploration results and mineral Resources.
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Participated in vanadium exploration project in Australia on September 27, 2022
Expanded investment in Vecco, which promotes vanadium business in Australia, on March 24, 2023
【project overview】
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Project name: Mt. Ida Project, Yinnetharra Project
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Mine location: Western Australia
[Overview of Delta Lithium]
- 1. Name
- Delta Lithium Limited
- 2. Location
- Suite 4, 6 Centro Avenue, Subiaco, Perth, WA 6008, Australia
- 3. Representative
- David Flanagan
- 4.URL
- https://deltalithium.com.au/
Regarding news release
contact information
Idemitsu Kosan Co.,Ltd. Public Relations Department Public Relations Division