Source: Streetwise Reports 08/30/2024
Atlas Lithium Corp. (NASDAQ: ATLX) announced its modular dense media separation (DMS) lithium processing plant design has been selected as a finalist for a contest being held by a nonprofit civil society organization in Brazil.
Participants in the contest are being recognized for their environmentally sustainable approaches in the industry in the Brazilian State of Minas Gerais. The winner is to be announced on November 14.
"Atlas Lithium's modular plant represents an exciting refinement and optimization of dense media separation (DMS) technology as applied to lithium processing" said Atlas Vice President of Lithium Processing Raimundo Almeida Jr. "Its reduced height, weight, and overall physical footprint will make it an environmentally friendly design that maximizes water recycling. We believe that it will use the lowest amount of water of any other lithium plant currently operational. Its modular design also significantly reduces its physical footprint compared to traditional designs."
The modular plant is entering the final phase of fabrication for its remaining components. The company said 48 out of more than 100 expected containers are ready and awaiting shipment from South Africa.
The plant will be the first of its kind for Brazil. It uses a modularized and optimized version of the long-used and proven DMS method of processing lithium. Using a heavy liquid medium, several times denser than water, materials are efficiently separated by density, for example, heavier lithium minerals are isolated from lighter waste materials.
H.C. Wainwright & Co. analyst Heiko Ihle has a Buy rating on Atlas and raised his target price recently to reflect a 316% gain.
The plant's modular design "streamlines transportation, installation and commissioning while its ...
