Canada’s Condor Energies Obtains License to Mine Lithium in Kazakhstan

BUSINESS TURKMENISTAN
Canada’s Condor Energies Obtains License to Mine Lithium in Kazakhstan
Mining process in Kazakhstan (Photo: inform.kz)

Canadian company Condor Energies Inc. announced on Tuesday that the Government of Kazakhstan has awarded it with a license for lithium brine mining in the country covering an area of 37,300 hectares (the “First Lithium License”).

According to the Condor Energies press statement, the Company holds a 100% working interest in the First Lithium License for a period of six years.

A prior well drilled in the First Lithium License for hydrocarbon exploration encountered and tested brine deposits with lithium concentrations of 67 milligrams per litre in Carboniferous-aged intervals as reported by the Ministry of Geology of the Republic of Kazakhstan. 

In addition, Condor had previously entered into a binding purchase and sale agreement for a separate lithium brine mining license (the "Second Lithium License") with the State firm.

A prior well drilled in the Second Lithium License for hydrocarbon exploration encountered and tested brine deposits with lithium concentrations of up to 130 milligrams per litre in Devonian and Carboniferous-aged intervals

Lithium is a chemical element that is widely used in the production of lithium ion batteries, drugs for treating mental illness, lubricants, light metal alloys and the space industry.

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2022