Lake Resources gets UK agency interest to fund Argentina lithium project By Reuters

(Reuters) – Australia’s Lake Resources said on Wednesday it had received formal interest from the United Kingdom’s export credit agency to cover 70% of the funding needed for the lithium developer’s flagship Kachi project in Argentina.

UK Export Finance also indicated it would increase funding to boost lithium output at the project, the company said, amid rising demand for the metal used in electric-vehicle batteries.

Lake Resources said the funding is not binding yet, and subject to offtake contracts, due diligence and the completion of a project feasibility study in the Catamarca province of Argentina.

The company aims to finish the study by the end of the first quarter of next year, with construction after a final decision expected to start in mid-2022.