Bacanora Lithium is a prominent company focused on the development and production of battery-grade lithium products essential for the electric vehicle and renewable energy sectors. The company operates under the ownership of Ganfeng Lithium, a global leader in lithium production. Bacanora’s flagship project, the Sonora Lithium Project in Mexico, is one of the largest lithium deposits globally, with an estimated 8.8 million tonnes of lithium carbonate equivalent (LCE). The project is designed to produce 35,000 tonnes per annum of battery-grade lithium, positioning Bacanora as a critical supplier in the transition to clean energy and sustainable transportation.
The company’s strategic partnerships, particularly with Ganfeng Lithium and Hanwa Co., Ltd., ensure strong operational support and long-term offtake agreements. Bacanora’s focus on sustainability includes environmental stewardship and community engagement, aligning with global efforts to reduce carbon emissions and promote renewable energy solutions. With its robust resource base and low-cost production capabilities, Bacanora Lithium is well-positioned to meet the growing demand for lithium in the escalating electric vehicle market and beyond.
Battery Technology
Bacanora Lithium specializes in the extraction and processing of lithium from clay deposits, a less common but highly promising method compared to traditional hard rock or brine sources. The company has developed a proprietary process to produce battery-grade lithium carbonate with a purity exceeding 99.5%, ensuring it meets the stringent requirements of battery manufacturers. This innovation is significant because it provides a cost-effective and scalable solution for lithium production, with operating costs estimated at $4,000 per tonne, placing Bacanora among the lowest-cost producers in the industry.
Additionally, Bacanora is exploring the potential to produce lithium hydroxide, another critical material for high-performance electric vehicle batteries. The company’s Sonora Lithium Project is designed with a modular approach, allowing for future expansions and adaptations to market demands. By leveraging advanced hydrometallurgical processes and optimizing its production methods, Bacanora Lithium aims to contribute significantly to the global supply of lithium, supporting the rapid growth of the electric vehicle and renewable energy sectors.
Recent Projects
In the past year, Bacanora Lithium has advanced its Sonora Lithium Project toward the construction phase, with a focus on finalizing engineering designs and securing necessary approvals. The company has also continued to strengthen its partnership with Ganfeng Lithium, ensuring technical expertise and financial support for the project’s development. Bacanora remains committed to starting construction in late 2023 or early 2024, pending final approvals. This milestone marks a critical step in bringing the Sonora Lithium Project into full-scale production, further solidifying Bacanora’s role in the lithium supply chain.
Investors
Bacanora Lithium’s primary investor and owner is Ganfeng Lithium, which acquired the company in full by December 2022. Ganfeng’s investment includes significant financial and technical support, ensuring the successful development of the Sonora Lithium Project. Previously, Bacanora received support from M&G Plc and the investors group Think BIG, both of which played a role in the company’s early growth. With Ganfeng’s backing, Bacanora is well-equipped to navigate the challenges of lithium production and contribute to the global transition to clean energy.
Business Details
Location: London, United Kingdom
Website: https://bacanoralithium.com
LinkedIn: https://www.linkedin.com/company/bacanora-lithium/
