Lithium Energy (ASX:LEL) received Environmental Impact Assessment approval to further explore the central and northern blocks of the Solaroz Lithium Brine Project in Argentina, the company said in a Wednesday Australian bourse filing.
The company will perform the majority of the next phase of exploration and evaluation activities in the two blocks as they hold the majority of the existing lithium resources in the project, the filing said.
Under an amended sale agreement, Lithium Energy is selling its interest in the Solaroz project to CNGR Netherlands New Energy (CNNET) for $63 million. Since Jan. 1, CNNET has been funding local operations and development in the project by providing $15 million in loan financing, added the filing.
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