Lithium Ionic (LTH.V) has placed its first long-lead equipment order at the Bandeira lithium project in Brazil, securing the project's main substation power transformer, the company said Thursday.
Ordering the transformer supports schedule certainty while Lithium Ionic advances its broader procurement program and continues to refine the project's capital cost estimate, the company said.
Overall project engineering has advanced to about 65% completion, according to Lithium Ionic.
"Placing our first long-lead order is a tangible signal that Bandeira is moving from the drawing board into execution," CEO Blake Hylands said.
"With overall engineering now approximately 65% complete and geotechnical work and procurement advancing in parallel, we are steadily de-risking the Project and building momentum toward a construction decision," Hylands added.