Australia’s IronRidge Resources becomes member of European Battery Alliance

28.8.2020, 16:30 - eeppo

Australia’s IronRidge Resources (AIM: IRR) announced that it has been accepted as a member of the European Battery Alliance, an organization committed to driving a competitive and sustainable battery industry in Europe by 2025.

In a press release, IronRidge explained that the EBA250 network brings together over 400 interested stakeholders, industry specialists and participants from both the public and private sectors of the EU’s battery value chain.

Among other benefits, members have access to the InnoEnergy Venture Capital Community and potential alternate funding sources.

“EBA250 membership will be highly valuable to the company as we continue to progress our Cape Coast Lithium Portfolio,” Vincent Mascolo, IronRidge’s CEO, said in the media brief. “We are confident in our project fundamentals and the project’s proximity to Europe is highly advantageous and may deliver multiple pathways through the value-adding vertical integration ambitions of the EU.”

The miner’s Cape Coast Lithium Portfolio covers some 684 square kilometres in Ghana, West Africa and includes the spodumene-rich Ewoyaa lithium project, which has with a maiden mineral resource estimate of 14.5Mt at 1.31% Li2O in the inferred and indicated category including 4.5Mt @ 1.39% Li2O in the indicated category.

IronRidge also entered into earn-in arrangements with Obotan Minerals, Merlink Resources, Barari Developments and Joy Transporters Limited of Ghana, and secured first access rights to acquire the historical Egyasimanku Hill spodumene-rich lithium deposit, estimated to be in the order of 1.48Mt at 1.67% Li2O and surrounding tenements.