Neo Lithium Corp., acquired by Zijin Mining in early 2022, was a Canadian company focused on lithium brine exploration and development. The company’s primary asset, the 3Q lithium brine project in Argentina’s “Lithium Triangle,” represents one of the world’s largest and highest-grade lithium resources. This project contains approximately 7.63 million tonnes of lithium carbonate equivalent in total mineral resources, with 1.67 million tonnes in mineral reserves. The acquisition by Zijin Mining positioned the project for accelerated development, aiming to meet growing demand for lithium in electric vehicle batteries and energy storage systems.
Battery Technology
Neo Lithium’s contribution to battery technology centers on its high-purity lithium carbonate production capabilities. The company achieved a significant technical milestone by producing 99.9% battery-grade lithium carbonate at its pilot plant for the 3Q Project. This exceptional purity level meets the strict requirements of major battery manufacturers, including Contemporary Amperex Technology (CATL).
The 3Q Project utilizes advanced extraction and processing methods to produce lithium from brine resources. The company’s pilot plant demonstrated the ability to transition from batch processing to continuous operation mode, enabling larger-scale production for specification testing and certification. This technological advancement supports the production of premium-grade lithium carbonate suitable for high-performance lithium-ion batteries.
Under Zijin Mining’s ownership, the project continues to advance with planned improvements in lithium extraction efficiency and cost reduction. The development includes implementing clean energy solutions to minimize environmental impact while maintaining high-quality output for battery manufacturing.
Recent Projects
Following the Zijin Mining acquisition, Phase I of the 3Q project commenced development with a designed capacity of 20,000 tonnes of battery-grade lithium carbonate. The project received Environmental Impact Assessment approval from the Catamarca Government in January 2022, enabling construction activities to proceed. Production was scheduled to begin by the end of 2023, marking a significant advancement in the project’s timeline.
Investors
Before the Zijin Mining acquisition, Neo Lithium’s major shareholders included Contemporary Amperex Technology Co. Limited (CATL) with 8% ownership, Orn & Cie SA with 5%, and company executives Waldo Perez and Gabriel Pindar, each holding approximately 4%. BlackRock Inc. maintained a 3% stake. As of January 2022, Zijin Mining Group Co., Ltd. acquired full ownership of Neo Lithium’s shares.
Business Details
Location: Toronto, Ontario, Canada
Website: https://neolithium.ca
LinkedIn: https://www.linkedin.com/company/12177634
