Alexander Mining receives 'significant interest' in joint venture

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Alexander Mining updated the market on its lithium research and development joint venture on Wednesday, confirming “significant interest” following its announcement of the joint venture project on 2 March.

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The AIM-traded firm announced the venture in March, between itself and its principal technology consultant Nicholas Welham, which would allow for up to 80% licence rights in any intellectual property created.

It explained that there had been “significant interest”, including the provision of samples, from several companies in the mining industry since that announcement.

Pursuant to that interest, the JV agreement between Alexander and Dr Welham had been varied to include the testing of the potential ‘AmmLeach’ proprietary process on a wider range of lithium bearing minerals, ores and concentrates.

The original JV agreement was restricted to spodumene containing ores, concentrates and tailings, and the board said the commercial terms of the JV remain unchanged.

“Now that suitable samples have been received, Dr Welham plans to start research and development laboratory work shortly,” it said in its statement.

“The lithium research and development programme is complementary to the company's existing leaching technology for the recovery of cobalt, which has an important use in lithium ion batteries and other high technology sectors.”