SLI - Standard Lithium Appoints Michael Barman as Chief Development Officer to Lead Late-Stage Commercial Discussions | Benzinga
VANCOUVER, British Columbia, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. ("Standard Lithium" or the "Company") (NYSE:SLI) (TSXV:SLI) (FRA:S5L), a leading near-commercial lithium company, today announced the appointment of Michael ("Mike") Barman as Chief Development Officer ("CDO"), effective October 8, 2023.
"Mike adds extensive and impressive commercial experience to our leadership team with his long career in advising and financing companies in the energy transition sector," said Robert Mintak, CEO and Director of Standard Lithium. "His appointment is timely given the late-stage discussions underway with a broad array of industry leaders and household names on our portfolio of projects."
Standard Lithium is making substantial strides in advancing critical minerals production in the United States, and this has garnered significant interest from global OEMs, battery manufacturers and energy companies. The Company's Phase 1A and the South West Arkansas ("SWA") Projects located in the heart of the Smackover Formation in Arkansas are the most advanced lithium brine projects in the United States. The Company has successfully demonstrated that its lithium extraction technologies are capable of extracting high purity lithium chloride from Smackover brines through the continuous testing and operation of its Demonstration Plant over the last three years.
The Phase 1A Project located in El Dorado, Arkansas is the first commercial direct lithium extraction project of its kind. The recently completed Phase 1A Definitive Feasibility Study contemplates production of 5,400 tonnes per annum ("tpa") of lithium carbonate over a 25-year operating life. Phase 1A represents the first new commercial lithium production from brine in the United States in six decades and is expected to double US lithium production beginning in 2026. The Company also recently completed a Pre-Feasibility Study for the SWA Project, demonstrating an after-tax net present value in excess of US$3.1 billion with at least 30,000 tpa of lithium hydroxide produced over a 20-year operating life.
Completion of the technical studies represents substantial progress ...