Winsome Resources and Loyal Lithium Limited have signed a Memorandum of Understanding (MOU) to foster a collaboration reducing the environmental and local footprint of exploration and mining activities in James Bay, Canada.
Among the primary objectives are increasing exploration, obtaining government licences and permits, and developing lithium mining projects in James Bay, where both companies have made significant progress in exploration within the Trieste Greenstone Belt.
“Our MOU with Loyal reinforces an already strong relationship with our neighbour. It also marks a formal step forward in meeting Canadian mining regulations requiring companies within a region to collaborate where appropriate to reduce environmental and social impacts,” Winsome Managing Director Chris Evans said.
Opportunities identified include improving efficiencies by removing unnecessary duplication of work, realising possible cost savings through shared services, optimising processes to shorten development schedules, and having a unified voice when engaging external stakeholders.
The MOU goes into effect today and is valid for a minimum of 18 months, with the opportunity to extend through mutual agreement of both Winsome and Loyal Lithium.
“This Collaboration MOU with Winsome Resources simply formalises the cooperative spirit within the mining industry. As Loyal progresses with more advanced exploration at the Trieste Lithium Project our commitment to minimise environment and stakeholder impacts is critical,” Loyal Lithium Managing Director Adam Ritchie said.
