MGX, Eureka create JV to speed up tech plans

Canadian-based MGX Minerals and Eureka Resources have entered a joint venture together with the goal of fast-tracking deployment of the first commercial rapid lithium recovery system in the world in Bradford County, Pennsylvania, US
MGX, Eureka create JV to speed up tech plans MGX, Eureka create JV to speed up tech plans MGX, Eureka create JV to speed up tech plans MGX, Eureka create JV to speed up tech plans MGX, Eureka create JV to speed up tech plans

MGX has developed a rapid lithium extraction technology that eliminates or reduces the physical footprint and investment needed for large, multi-phase, lake-sized, lined evaporation ponds

Staff reporter

The system will be constructed at Eureka's Standing Stone advanced waste-water treatment facility near Towanda in the northern region of Pennsylvania.

The plant currently provides energy producers in the region with advanced treatment services for oil and gas brines. Eureka has reported post-concentration lithium values of about 1,000 parts per million from the asset.

Commissioning has been set for the September quarter. In addition to the initial system, the JV parties are also advancing their growth strategy, which in part involves scaling up lithium output at Standing Stone, deploying additional systems to other Eureka facilities, and identifying new installation sites at third-party treatment facilities.

The companies will be tied together for five years, with mutual discretion to extend the transaction for an additional four years.

Under the deal's terms, Eureka will obtain and manage all necessary environmental permits related to each system installation along with everyday operational duties, while MGX will fabricate and install the systems, market the petrolithium and perform system maintenance.