Altamin's collaboration with IREN for Lazio Geothermal Lithium Project

Altamin Limited (ASX: $AZI) has signed a non-binding memorandum of understanding (MOU) with IREN SpA (BIT:IRE) for potential collaboration in the development of the Lazio Geothermal Lithium Project. The project aims to explore sustainable methods for lithium production in Europe, with Altamin leading the development and IREN providing operational and regulatory support.

Executive commentary on the collaboration

Altamin's Non-Executive Chairman, Alexander Burns, expressed excitement about the partnership with IREN, highlighting their complementary skills and leading reputation in infrastructure projects. He emphasized the potential for the project to become a significant source of lithium within the EU, benefiting from proximity to infrastructure and markets, as well as substantial geothermal energy potential. Executive Chairman of IREN, Luca Dal Fabbro, emphasized the strategic importance of lithium for the energy and digital transition, underlining IREN's commitment to leveraging its expertise in the recovery of critical raw materials.

Project overview and outlook

Altamin's signing of the MOU with IREN marks a significant step towards developing a sustainable lithium supply in Europe. The collaboration aims to maximize the probability of success for critical raw material production at the Lazio Geothermal Lithium Project. With Altamin leading the project's development and IREN providing operational and regulatory support, the initiative seeks to address the growing demand for lithium in the energy and digital transition. The project's proximity to infrastructure, markets, and substantial geothermal energy potential positions it as a promising venture. As the parties work towards formal agreements to replace the MOU, the outlook for the project involves comprehensive studies, seeking financing, and the development of a pilot plant and commercial plant. The project's potential to contribute to the EU's lithium supply and its alignment with sustainable energy goals present a positive outlook for Altamin's corporate strategy and the future of the Lazio Geothermal Lithium Project.