Lithium Universe Ltd. Port Location Selected for Spodumene Import to Refinery

Melbourne, Mar 26, 2024 - Lithium Universe Limited (ASX:LU7) (ESMAF:OTCMKTS) is pleased to announce the successful completion of a port study aimed at determining the most efficient import scenario for lithium-rich spodumene to supply the Becancour Lithium Refinery. The proposed refinery, which will rely on spodumene feed, may source this material from within Canada or external locations proximal to the Atlantic Ocean such as Brazil, Africa, or even further abroad to Australia. The crucial aspect is the ability to directly import spodumene into the Becancour Lithium Refinery.

The study systematically evaluated the capabilities of key ports, including Trois-Rivieres, Sorel, Quebec, Montreal, and Becancour, to manage the importation and storage of spodumene. This comprehensive analysis focuses on assessing the logistical framework essential for supporting spodumene importation. It encompasses an in-depth examination of infrastructure, specific capabilities, and available equipment of each target port, ensuring the selection of optimal routes and storage solutions in alignment with the project's logistics requirements.

Additionally, the study thoroughly explores the detail within the logistics chain, with a focus on offering an understanding of the inherent risks and challenges linked to spodumene transportation. This includes a comprehensive examination of factors such as the management of dust emissions, adherence to regulations, safeguarding workers and community health and safety, as well as addressing environmental concerns.

The company has determined that the preferred port for the project will be the Becancour Port. The delivery plan for the product involves bulk shipments, with vessels ideally carrying a cargo quantity of 30,000 tonnes and a minimum shipment requirement set at 10,000 tonnes per vessel. The processing site is anticipated to consume 10,000 tonnes of spodumene every four weeks. The annual transportation volume is estimated to be around 140,000 tonnes of spodumene. To facilitate this logistical operation, the spodumene will be transported to the site exclusively by road. This comprehensive approach ensures a strategic and efficient supply chain for the delivery and consumption of spodumene at the processing site.

The Becancour Port, under the management of SPIPB and operated by Quebec Stevedoring Limited (QSL), plays a pivotal role as a strategic transportation hub situated along the St. Lawrence River. Owned by the Quebec government, the port encompasses five berths, ranging from 150 to 292 meters in length, and includes a ro-ro ramp. Its freshwater location ensures optimal conditions for shipping activities. The port's year-round accessibility is facilitated by its deep-water status, with a water depth of 10.67 meters, accommodating large-capacity merchant vessels consistently.

Positioned halfway between Montreal and Quebec City, the Becancour Port serves as a critical link in the transportation network, providing seamless connectivity to road and rail. Handling a substantial volume, it manages over 3,600,000 tonnes of cargo annually, affirming its significance in the region's trade and logistics landscape. The Becancour Port's importance is further underscored by its capacity to host nearly 200 ships each year.

Preliminary ongoing discussions regarding the expansion of the terminal emphasize the port's acknowledgement of the evolving needs of its growing customer base in the region. The preliminary discussions extend to acquiring specialized equipment, particularly bulk unloading equipment, tailored to the requirements of various companies establishing a presence in the Becancour Industrial Park.

In summary, the Becancour Port, with its strategic location, extensive facilities, and plans for expansion, is a vital component of the Lithium Universe's refinery. Discussions will commence with the Port Authority.

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About Lithium Universe Ltd

Lithium Universe ASX:LU7Lithium Universe Ltd (ASX:LU7) (OTCMKTS:ESMAF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



Contact

Alex Hanly, Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com

Iggy Tan, Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com