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American Lithium (NASDAQ:AMLI) +1.8% in Tuesday’s trading after saying it submitted a semi-detailed environmental impact assessment study ahead of schedule for its Falchani lithium project in Peru to the country’s Ministry of Energy and Mines, and expects approval “in the coming months.”
The company said the EIA also would provide the authority to drill as many as 420 drill platforms across the project, and would enable drilling of several additional strategic holes, building on the drilling done earlier this year under the hydrogeological permit.
American Lithium (AMLI) CEO Simon Clarke cited “support of the new authorities in Peru in helping us fast-track this process… we will now be able to complete our PFS and move rapidly into the mine permitting process.”
Last month, American Lithium (AMLI) raised its estimates for the Falchani project by 476% from 2019, saying it could hold 5.53M metric tons of lithium carbonate equivalent, which would make it one of the world’s largest hard-rock lithium projects.
