10/11/2020 - 15:26

Infinity locks in key Spanish management

10/11/2020 - 15:26

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Infinity Lithium has landed a recruitment coup helping advance the company another crucial step in its path towards production by appointing prominent local businessman and former Spanish politician, Mr Cayetano Polo as the company’s Head of Institutional Relations in Spain. Mr Polo has a strong background in regional and local government in the Extremadura region, which hosts the company’s developing lithium operation.

Mr Cayetano Polo campaigning in Extremadura, Spain. Credit: Bulls N' Bears

Infinity Lithium has taken another crucial step in its path toward production appointing prominent local Spanish businessman, Mr Cayetano Polo as the company’s Head of Institutional Relations in Spain. Mr Polo is an experienced engineer and has a strong background in regional and local government in the Extremadura region, which is home to the company’s developing San Jose lithium project in Spain.

The company’s San Jose hard-rock lithium project is located in the Extremadura region of Spain, adjacent to the border with Portugal approximately 280km south-west of Madrid. The project covers an extensive mineralised terrane and hosts a massive open-pit resource of 111.3 million tonnes grading 0.61 per cent lithium oxide, with a potential credit of 206 ppm tin.

Infinity has already completed a Pre-Feasibility Study over the project which returned an impressive set of numbers including a projected 19-year mine life to feed 30-years of production, a Net Present Value of US$860 million and an estimated annual revenue stream - from lithium hydroxide production - of US$200 million per annum. The company is now in the midst of a Feasibility Study as it takes the next crucial steps along the production pathway.

Mr Polo is likely to play a key role in the advancement of San Jose and his appointment is in line with Infinity’s focus on local engagement and employment in the development of the project.

 Infinity Lithium Managing Director, Ryan Parkin said:

“It’s a privilege to attract a representative of Cayetano’s calibre to the project, and his appointment further reflects the efforts undertaken to assemble a world class team in corporate, technical and institutional spheres. Beyond his political experience that will help us navigate through the processing of the necessary permits and licenses, his past experiences and engineering background are ideally suited to the nature and characteristics of the San José Valdeflórez project."

Mr Polo is a resident of the regional centre at Caceres, adjacent to the project area. He has held a number of key positions in business and government and was recently local political party Ciudadanos’ candidate for the presidency in the Extremadura regional elections. Mr Polo holds an MBA from the Escuela de Organizacion Industrial and was a professor-collaborator at the Cerem and IMF business schools.

In regard to his appointment to the Head of Institutional Relations with Infinity, Mr Polo said:

"This project represents an opportunity to industrially transform Cáceres and Extremadura, since we are talking about one of the irreplaceable materials for the 'green revolution' in Europe creating employment and wealth, and allowing a transition from fossil fuel to sustainable energy.”

Mr Polo is also a supporter of the Spanish governments draft Energy Storage Strategy which promotes the development of “green” technologies. The Spanish Government, in lockstep with the rest of  Europe, is at the global vanguard in the transition from the use of fossil fuels for transportation and power to a host of renewable power sources and the use of various types of power storage, including lithium-ion batteries.

Infinity has successfully produced battery-grade lithium carbonate and lithium hydroxide samples from its micaceous lithium ores at San Jose. The company is now developing its process flow sheet utilising conventional processing methods and is refining the process as part of its ongoing feasibility study.

Ultimately, Infinity’s aim is to is become a vertically integrated producer, mining at San Jose to manufacture a high-grade lithium product which might then be fed into a nearby, third-party battery manufacturing facility, bolstering local industry and providing employment through the region. 

Interestingly, the Extremadura region leads the way in these green initiatives, hosting the Majadas solar thermal plant just east of Caceres, which was commissioned in 2010 and produces around 50 megawatts of output, enough to power 30,000 homes.

Mr Polo’s appointment complements other recent corporate initiatives by the company including the appointment of lithium expert Jon Starink to the board of directors to oversee the technical components of the feasibility study and design of the developing operation.

Infinity is continuing with its feasibility and development studies over the San Jose lithium deposit. With the addition of Mr Polo to the company’s in-country management group, Infinity will be well-represented on the ground which will increase community engagement and help to expedite the crucial permitting required for a move into production.

 

Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au

 

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