Lithium Energy (ASX:LEL) has received the final environmental impact assessment approvals for its Solaroz Lithium Brine Project in Argentina, paving the way for the next phase of exploration and evaluation activities.
The development covers concessions in both the Central and Northern blocks, encompassing a total of 10,666 hectares, where the majority of the existing lithium resources are located.
The newly acquired approvals follow those received in December 2024 for the Mario Angel and Payo concessions, effectively granting exploration and evaluation permissions across all Solaroz concessions.
This is a step forward in the Solaroz development plans.
Under a revised sale agreement, CNGR Netherlands New Energy Technology will fund local operations and further development phases at the site, courtesy of a loan funding mechanism of up to US$15 million ($24 million).
Upon announcing the approvals, William Johnson, Executive Chairman of Lithium Energy, stated, "We are pleased to have received all necessary environmental approvals, allowing us to proceed with our planned activities at Solaroz."
Further updates on the exploration, evaluation, and development activities are expected upon finalisation of a compatible work program aligned with the approved EIA guidelines.
At the time of reporting, Lithium Energy's share price was $0.37.